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The ACME Group, which is into solar power, said it has received the final approval for a $100-million (about ₹600 crore) credit facility from the Asian Development Bank.
The loan will be in multiple tranches and the first tranche of $50 million will be utilised to develop 100 MW projects in Rajasthan. The remaining credit facility will be for upcoming project, the company said.
Manoj Kumar Upadhyay, Founder & Chairman, ACME Group, said: “This expression of interest depicts the potential of solar power in the country and focus of the current government on the renewable sector.” Last month, the group also sourced an investment of $34 million (₹201.9 crore) from IFC for a 100-MW project in Rajasthan.
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