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ADB to Guarantee $425 Million of Indian Solar Projects

The Asian Development Bank plans to back $425 million worth of investments in India’s solar power plants to help the projects secure financing.

The Manila-based lender plans to guarantee 50 percent of loans that international and Indian banks make to solar projects that have less than 30 megawatts of capacity in the country, Sujata Gupta, head of the bank’s private sector group in India, told reporters today in Mumbai.