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Gujarat seeks funding for USD172m solar project
The Gujarat government is reportedly in discussions with the Asian Development Bank (ADB) and International Finance Corporation (IFC) to help finance a solar project in the north of the Indian state. According to The Times of India, the project is expected to cost INR8bn (USD172m) to build and will comprise solar cell and module manufacturing facilities and solar power generating installations. The site will be developed by Gujarat Power Corporation and is to be located on around 3,000 hectares of government land, according to the paper.
Last month, it was reported that Adani Power was planning to build a 40MW solar farm in Gujarat. The project will cost around INR5bn (USD107m) to build and is scheduled for completion by the end of the year.
