Welspun Energy Ltd., India’s biggest developer of solar projects, arranged 1.35 billion rupees ($23 million) of debt funding for a 20-megawatt plant in Maharashtra state in the west of the country.
Power from the 1.8 billion-rupee plant in Solapur, about 250 miles (400 kilometers) east of Mumbai, will be sold to state-run distributor Brihanmumbai Electric Supply & Transport Undertaking, Welspun said today in an e-mailed statement. It didn’t identify any of the lenders.
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