Bloomberg News

Abengoa’s India Unit May Get IFC Loan for Solar Equipment Plant

May 02, 2012

The World Bank’s private-sector financing arm may provide a $14 million loan to Spain’s Abengoa SA (ABG) for a factory in India to make equipment for solar-thermal power plants.

Inabensa Bharat Pvt., a wholly owned unit of the solar developer, plans to build a plant near Vadodara in western Gujarat state that will produce steel support structures for cylindrical parabolic solar collectors and heliostats in solar- thermal plants, according to a summary of the loan proposal on the International Finance Corp. website.

The facility will have an annual capacity of 25,000 tons and also produce steel structures for electricity transmission and distribution projects. It plans to sell its output in India and neighboring countries, the IFC said.

Solar-thermal technology harnesses sunlight to heat liquids that produce steam for generators.

To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at npearson7@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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