According to reports, Godawari Power & Ispat Ltd., one of the seven companies that won licenses to build India’s first solar-thermal plants, has arranged funding for its project from the Bank of Baroda. (BOB)
The Raipur, Chhattisgarh-based developer won project financing for its planned 50-megawatt solar plant in Rajasthan state, Managing Director B.L. Agrawal said today by telephone. He declined to give details.
Godawari Power said in December that it planned to invest 7 billion rupees ($157 million) in the project.
The Indian government has set a July 9 deadline for companies that won solar licenses in an auction last December to complete funding for their projects or risk losing their permits and as much as $41 million in bank guarantees.