State-run NTPC, which plans to set up a 15-Mw solar power plant at Anta in Rajasthan, is in talks with German bank KfW, among others, to tie-up for funds.
It is understood the power utility would be signing a loan agreement with KfW for $100-million.
“We are working out the modalities of the project and are in talks with various banks for loans. We are also in talks with KfW to tie-up for funds but nothing has been finalised as of now,” an NTPC official said on condition of anonymity.
A KfW senior official confirmed it would be signing an agreement with NTPC soon to lend $100 million for the solar thermal project.
“We will be signing a loan agreement with NTPC for the project in the next couple of months,” KfW Director Oskar von Maltzan said.
The cost of the project is estimated around Rs 225 crore (Rs 15 crore per Mw).
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At present, NTPC has a total installed capacity of over 33,650 Mw. The corporation has formulated a business plan of capacity addition of about 1,000 Mw through renewable resources by 2017.
Capacity addition of 301 Mw through solar PV and thermal by March 2014, has also been envisaged in line with the National Solar Mission.
The German lender is also planning to expand its activities with NTPC in the field of solar thermal in the next few years, Maltzan said.
“We are currently busy supporting the corporation in writing detailed project reports for feasibility study for solar thermal power projects which would be based in Rajasthan and Gujarat,” he said.