June 15 (Renewables Now) - The Overseas Private Investment Corporation (OPIC) will extend USD 225 million (EUR 194.2m) to back the construction of a 252-MW wind park in the Indian state of Tamil Nadu.
The funds will be allocated to Mytrah Vayu Sabarmati Pvt Ltd, a subsidiary of Indian renewable power producer Mytrah Energy Ltd (LON:MYT), OPIC said on Thursday. Further details about the project were not provided.
The financing will come from a USD-1.8-billion funding package and political risk insurance, which OPIC has approved for a range of projects in Latin America, Eastern Europe, Asia and Africa. OPIC is the US government’s development finance institution.
(USD 1.0 = EUR 0.863)