Proparco, ADB finance 200MW Gujarat solar project

France's Proparco has agreed a loan of INR1.066 billion (about $14.2 million) as part of INR4.66 billion (about $62 million) loan extended by the Asian Development Bank to finance a 200MW solar power plant in Gujarat, northwest India.  

ESPL, a special purpose vehicle owned by the ENGIE group, has been set up to construct and operate the photovoltaic plant. Commissioning is expected in the first half of 2021. The plant will contribute to increasing the share of renewable energy in the electricity mix of the country which is expected to increase to 40% by 2030.