Monday, May 7, 2012

ADB Expands Lending to Reliance Power for Solar-Thermal Project

The Asian Development Bank agreed to lend a further $103 million to a solar power project owned by Reliance Power Ltd. (RPWR) in India.

The Manila-based bank approved a $48 million loan for Reliance’s 40-megawatt Dahanu photovoltaic project in December. That plant is being expanded to include a 100-megawatt solar- thermal farm, S. Chander, the ADB’s director-general of sustainable development, said today at a conference in Jodhpur in Rajasthan state.

Solar-thermal technology harnesses sunlight to heat liquids that produce steam for generators; photovoltaic plants use panels to turn sunlight directly into power.

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