Project Profile: OPIC loans fund India’s first large scale solar power plants
Sector Solar power
Challenge Advance India’s goal of generating more power from renewable sources and bring power to rural areas located outside the existing electricity grid.
Solution An initial loan of $6.2 million to Azure Power to construct a 2-megawatt solar power plant in Punjab. Additional loans for the construction of two other plants have followed.
Impact More power generating capacity brought to rural India; carbon emissions reduced; jobs and development spurred.