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Wednesday, 14 June 2017

AfDB plans to allocate USD 40 mn to Shapoorji FiT projects

The African Development Bank (AfDB) is looking to allocate another c.USD 40 mn in funding to two solar feed-in tariff (FiT) projects by India’s Shapoorji Pallonji Group, sources tell Al Borsa. Shapoorji has already signed agreements with AfDB, the IMF, and the Islamic Bank to finance its USD 85 mn 50 MW power station. The AfDB is also considering financing Alcazar’s 50 MW solar power plant in Benban with a USD 18 mn package, PV Magazine reports. The project is being built by Alcazar subsidiary Delta for Renewable Energy.

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