IFC commits $105 million for Brookfield’s Bikaner solar power project
livemint.comIFC will make the investment through long-term non-convertible debentures allocated to the project's special purpose vehicles, which are implementing the project.Megawatt peak (MWp) refers to the maximum power output capacity of a solar or wind power project that varies depending on wind speed and strength of sunlight.A joint statement from IFC and Brookfield said that following the commitment, Brookfield will provide solar power to commercial and industrial (C&I) consumers across India at more competitive tariffs through long-term power purchase agreements (PPA) and contribute to the nation’s decarbonization goals."This is IFC’s first investment in Asia and the Pacific using an innovative hybrid offtake structure where the project sells the power generated to C&I consumers under long-term corporate PPAs and merchant market through exchange. The project will be connected to the inter-state transmission system section of India’s green energy corridor," said the statement.Imad N.
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