ADB Considering Loans for 580-Megawatt Solar Power Project in India
The Asian Development Bank may provide loans to a 580-megawatt solar power park in India’s Gujarat state as the country aims to increase its solar power capacity to meet growing demand.
The solar power park is being developed in Charanka village by the Gujarat state government, Naoki Sakai, a senior climate change official from the bank, said in a Dec. 22 telephone interview from Manila, where the lender is located. The project will use both solar photovoltaic and solar thermal power, he said.
For solar photovoltaic projects, energy from the sun is converted directly to electricity, while in solar thermal projects, the sun’s energy is used to make steam which is then used to generate power.
“We already provide some portion of technical assistance” to the project, Sakai said. The bank is exploring the possibility of providing financial assistance including a loan, he added.
He declined to say the amount of the loan the bank is considering, saying that it has not made any decision on financial assistance.
“The government would like to make this solar park as a showcase” for various kinds of technology, Sakai said. India aims to generate 20 gigawatts of solar power by 2022.
The ADB could also provide support for power transmission in India, he said.
Editors-- Baldave Singh, John Viljoen.
To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net.
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net.
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