Indian Solar Farm Gets $103M Asian Development Bank Loan

Law360, New York (April 24, 2012, 2:27 PM EDT) -- Reliance Power Ltd., one of India's biggest power generators, will get a $103 million loan from the Asian Development Bank to build a 100-megawatt solar farm in the northwestern state of Rajasthan, the bank said Tuesday.

The loan will cover about a quarter of the estimated $415 million price tag of the project, which is being built alongside an existing Reliance solar farm and is slated for completion next spring. The plant will be one of the largest solar projects in India, which is rapidly building...
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