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Green Infra May Get $50 Million Solar Loan From IFC

July 2 (Bloomberg) -- 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’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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