To support the development, construction, operations and maintenance of a 400 MW solar PV plant in Gujarat, India, Engie will receive Rs 14.6 billion in the form of a project finance senior debt facility in local currency jointly by the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB).
Of this, AIIB, will provide Rs 7.3 billion.
This project will help diversify ENGIE’s sources of capital and long-term funding. It will also contribute to reaching 500 GW of renewable energy generation installed capacity in India by 2030.