The Indian state of Gujarat has secured a $100m loan from the Asian Development Bank (ADB) to support acceleration of work at new large-scale solar power facilities.
The Charanka Solar Park in Gujarat's Patan district will use the funds to establish substation, transmission lines and other equipment to collect and distribute solar power.
The State Government of Gujarat will contribute nearly $37m and will offer cost-effective alternatives to private companies to set up solar energy-generating plants in the region.
ADB senior climate change specialist Naoki Sakai said ADB would help draw in private sector developers by installing reliable power transmission facilities in the solar park and also provide a model to scale up solar power production in India.
The project will be jointly executed by the Gujarat Energy Transmission Corporation and the Government of Gujarat.