ADB signs long-term loan for 25 MW solar project in India

The power plant project can generate 50.7 GWh of electricity annually.

The Asian Development Bank (ADB) signed a long-term loan deal with Fourth Partner Energy Private Limited for around $14.7m to develop a 25-megawatt solar photovoltaic-based power plant in India.

In a statement, ADB said the power plant located in Tirunelveli District in Tamil Nadu can produce around 50.7 gigawatt-hours of electricity annually which will be sold directly to commercial and industrial users.

ALSO READ: EMA, ADB partner to develop RE generation, transmission in ASEAN

The project can avoid nearly 41,700 tonnes of carbon dioxide emissions per year.

India’s open access renewable energy policy allows a group of consumers to buy electricity directly for independent power producers, according to ADB.

“This is ADB’s first direct financing to a renewable energy plant of this nature and is expected to crowd in international commercial financing to further decarbonize the commercial and industrial sector,” said ADB Private Sector Operations Department Director General Suzanne Gaboury.

Follow the link for more news on

Asian Development Bank

Also Read

China invests over $100b overseas in cleantech since 2023

GPSC bags $216.85m loan for clean energy investments

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit