French firm to finance three solar projects in India

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Janaury 22, 2015: India’s solar sector will soon get another push as Solardirect, a French solar power producer, has raised a sum of $296 million for financing almost 250MW of solar projects in France, Chile and India. According to latest reports, the company is supposed to get EUR 43.4 million from International American Development Bank for financing three projects totalling to 56MW in Punjab and Rajasthan provinces. The Indian solar schemes will be backed by local lenders PTC India Financial Services Ltd and Axis Bank.

Solardirect was established in 2006 and has raised EUR 950 million in financing for renewable energy projects. Figures till the end of 2014, the company already had 443.5MW of solar parks in operation or under construction.