Asian Development Bank Proposes to Extend Loan for the Development of Solar Park in Gujarat

According to Naoki Sakai, who works as senior climate change official in Asian Development Bank, the 580 MW solar park being developed by the Gujarat State Government in Charanka village is expected to receive a loan from the Asian Development Bank.

The power generated from the park will be utilized to meet the growing demand for electricity in the state.

The proposed solar farm will incorporate both solar photovoltaic and solar thermal projects. The solar photovoltaic projects are designed to convert the sun energy directly into power where as the solar thermal projects will utilize the solar heat to generate steam and later convert it into electric power.

According to Sakai, the project will receive financial assistance in the form of a loan as well as technical assistance required for the project. He did not divulge the loan amount proposed by the bank for the development of the project. He also conveyed the intention of ADB to support the installation of power transmission lines.