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India

India

Development bank loan for 180 MW

The Asian Development Bank (ADB) is extending a $113 million (INR 4.5 billion) loan to the Indian subsidiary of Hong Kong's CLP Holdings for the development of two wind farms totalling 183.2 MW. It is ADB's largest financing agreement for private sector renewable energy projects so far. The two projects, being built at a cost of $251 million (INR 10 billion), are the 100.8 MW Samana wind farm in Gujarat and the 82.4 MW Saundatti development in Karnataka. Both will use Enercon 800 kW turbines. CLP is using internal funds and long term debt from other sources to meet the additional financing requirements. Comprising 126 turbines, Samana is CLP's largest wind project to date (Windpower Monthly, September 2007). Planned in two phases, the first 50.4 MW is due for completion in June, with the rest in January 2009. Construction on Saundatti is hoped to begin by the end of this year with a view to all 103 turbines being installed by mid-2009.

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