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Green Infra May Get $50 Million Solar Loan From IFC

The World Bank’s private-sector financing arm may provide a $50 million loan to Green Infra Ltd. to build two solar power plants in India.

The International Finance Corp. is considering offering the funding over the next two years for a 20-megawatt project and a five-megawatt plant in Rajasthan state, according to a proposal dated June 29 on the lender’s website.

The projects will use thin-film photovoltaic panels, according to the proposal, which didn’t name an equipment supplier.

New Delhi-based Green Infra was formed in 2008 by the private equity arm of Infrastructure Development Finance Co., one of India’s biggest lenders to power plants. It bought BP Plc (BP/)’s Indian wind-energy portfolio of 100 megawatts the following year.

To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at npearson7@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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