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to-the-point: OPIC approves finanancing for 252-MW wind project in India

Wind park in India. Featured Image: Regien Paassen/Shutterstock.com

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)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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