September 07, 2008

ADB lends USD 113 million for wind power in India

Asian Development Bank will provide USD 113 million loan to the wholly owned Indian subsidiary of Hong Kong's CLP Holdings to fund the development of 2 wind energy facilities in Gujarat and Karnataka.

The projects will together add 183.2 MW of capacity in the 2 states and will have a total estimated cost of INR 990 crore. ADB will grant a loan of INR 445 crore and that the private sponsors will use internal funds and long term debt from other sources to complete the funding requirements.