The Asian Development Bank (ADB) is promoting renewable energy in India by helping to finance the construction and operation of wind energy facilities of the Tata Power Company Limited.
The project is expected to produce about 100MW. ADB will provide an Indian rupee denominated loan of up to Rs3.52 billion (US$ 79.3 million) to Tata Power without a government guarantee to set up and operate wind energy facilities at two locations in the state of Maharashtra. Indian Renewable Energy Development Agency Limited will co finance with ADB up to Rs910 million (US$ 22,4 million). The tenor of the loan will be up to 13 years and will have a fixed interest rate during the entire tenor of the loan. One subproject, the Khandke Wind Power Project, is near Khandke village in Ahmednagar district, while the other subproject, the Bramanvel Wind Power Project, is near Bramanvel village in Dhulia district.
