IFC to lend $36 million to Mahindra Renewables for a 250 MW solar project in Rajasthan

The International Finance Corporation (IFC), the financial arm of the World Bank, will lend $36 million for a 250 MW solar project by Mahindra Renewables Private Limited (MRPL) in Rajasthan. Mahindra Susten won the bid to develop 250 MW quoting Rs 2.53 per kWh. The project is to be commissioned in stages starting September 2020, and the scheduled commercial operation date is October 25, 2020. Mahindra Susten is responsible for the engineering, design, procurement and construction of the project, while Mahindra Teqo will handle the operations and maintenance.


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