ADB provides Engie with long-term loan for 400-MW Indian solar project
- Admin
- Jul 4, 2024
- 1 min read
The Asian Development Bank (ADB) has agreed a long-term local currency loan with French utility Engie SA for the construction and operation of a 400-MW solar power plant in India. The project in Surendranagar District, Gujarat, is expected to generate an average of 805 GWh annually over the next 25 years. It will support India's ambition for at least 500 GW non-fossil fuel energy capacity by 2030. This project exemplifies how ADB supports the private sector in developing renewable energy projects through long-term local currency financing typically unavailable in local capital markets.
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