Tata Power secures funds for 25 MW solar project

Tata Power secures funds for 25 MW solar project
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First Published: Tue, Dec 13 2011. 02 12 PM IST

Updated: Tue, Dec 13 2011. 02 12 PM IST
Mumbai: Tata Power said on Tuesday it has secured debt financing for a 25 MW solar photovoltaic power project in Gujarat.
Tata Power tied up loans for the Rs 365 crore ($68.5 million) project at Mithapur in Gujarat, through a consortium consisting of State Bank of India and Export Import Bank of India, it said in a statement.
The company has already signed a power purchase agreement with the state electricity board to supply power from the project, which will start by end-December.
The company had set up a 3 MW solar project at Mulshi in Maharashtra earlier this year, and operates another 100 kilowatt solar plant since 1996 in the state.
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First Published: Tue, Dec 13 2011. 02 12 PM IST
More Topics: Tata Power | Solar | Debt Financing | Gujarat | SBI |