According to reports, International Finance Corp., the World Bank’s private-sector financing arm, may provide a $15.75 million loan for a 40-megawatt wind farm in India.
NSL Renewable Power Pvt., 7.9 percent owned by IFC, plans to build the Jath Wind Energy project by March at Vaspet in Maharashtra state’s Sangli district, according to an investment proposal on IFC’s website. The loan proposal will go to the bank’s board on Jan. 15.
The total project cost is $45 million. The farm will use turbines from Inox Wind Ltd. and supply power to local state-run utility Maharashtra State Electricity Distribution Co.
NSL, which is also backed by private equity fund FE Clean Energy Group Inc., has 185 megawatts of operating wind, biomass, hydropower and solar capacity in India, according to the proposal.