Godawari Power & Ispat has received project financing from the Bank of Baroda for the construction of a 50MW solar plant in Rajasthan, India.

The company plans to invest about INR7bn ($157m) for the development of the projects.

Godawari Power & Ispat is one among the seven companies that have been awarded the contract to build India’s first solar thermal plants, reports Bloomberg.

The company has been selected to develop about 75% of the 620MW capacity in the nation.