Azure Sunlight to use $20 million for rooftop solar power project.

US-based finance firm SAM Consultant said it has facilitated Azure Sunlight's borrowing of USD 20 million for a 19-MW rooftop solar power systems project.

'SAM Consultant, the only Overseas Private Investment Corporation (OPIC) fund facilitator in India, helped Azure Sunlight Pvt of India in borrowing USD 20 million,' SAM Consultant said in a press release

According to the statement, the funds will be used for the project which comprises development, financing, construction, operation and maintenance of an approximately 19-MW portfolio of rooftop solar generation systems across India.

Azure Sunlight will be the equity owner of this portfolio of rooftop solar systems and will utilise a USD 20 million loan facility from OPIC to provide the debt portion of the financing for each individual project, it said.

ET