The US Overseas Private Investment Corp (OPIC) has signed a $74m commitment with developer ReNew to help finance a 100MW solar facility in the Indian state of Telangana.
The project is the first approved under the ReNew master financing facility – a $250m agreement between OPIC, the US government’s development finance arm, and ReNew.
The facility is for the development, construction and operation of up to 400MW of solar energy projects under the of Indian government’s Jawaharlal Nehru National Solar Mission.
OPIC president and chief executive Elizabeth Littlefield said: “OPIC is committed to assisting India in its transition to a low carbon economy by investing in clean energy projects.”
Image: Morgue File
