Reliance Power, the Indian promoter of CSP plants, has achieved a financial closure with a $302 million borrowing for the 100 MW plant the company is building in the state of Rajasthan.
The plant cost is over $400 millions and is being financed by Asian Development Bank, US EXIM Bank and Dutch's FMO. Financing is being carried out through ECB (external commercial borrowing), an instrument used in India to facilitate the acces to foreign money.
The plant, owned by Rajasthan Sun Technique, a wholly subsidiary of Reliance Power, is located at Dhursar, in Jaisalmer district adjacent to a 40 MW PV plant the company commissioned last March.
Reliance chose Areva Solar as its technology partner to develop the plant with its proprietary Compact Linear Fresnel Reflector (CLFR). This will be the largest Fresnel type plant when (currently the largest is a 30 MW plant in Spain recently commissioned).
India has a target of 20 GW of solar power by 2022. There are currently 470 MW of CSP under construction.
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