to-the-point: Azure secures USD-20m loan for rooftop solar in India
Rooftop solar system in India. Author: Coshipi. License: Creative Commons, Attribution-ShareAlike 2.0 Generic
Azure Sunlight Pvt Ltd has received a USD-20-million (EUR 17.9m) loan from the Overseas Private Investment Corporation (OPIC) to develop a roughly 19-MW rooftop solar portfolio in India.
This was announced on Tuesday by local fund facilitator SAM Consultant. The loan facility will be repaid from the aggregate cash flows generated by the solar systems, SAM Consultant said in a statement.
Azure Sunlight’s parent, namely Azure Power India Pvt Ltd, will serve as turnkey construction contractor as well as operations and maintenance (O&M) provider for each individual project.