MoU signed for $30 million World Bank loan to RUMSL for Madhya Pradesh solar projects

By: | Published: January 31, 2018 6:08 PM

An MoU was signed today between Rewa Ultra Mega Solar Limited (RUMSL) and the World Bank, which will provide a loan of USD 30 million (around Rs 210 crore) to develop the "world's largest" 750 MW solar power plant in Rewa and another one in Mandsaur in Madhya Pradesh.

world bank, world bank loan, madhya pradesh, solar project, rewa ultra mega solar limited, solar plants, solar power, solar power project, IREDA, madhya pradesh developmentWB is providing a loan of USD 100 million through IREDA for financing infrastructure of solar parks in India,” Srivastava said. (Reuters)

An MoU was signed today between Rewa Ultra Mega Solar Limited (RUMSL) and the World Bank, which will provide a loan of USD 30 million (around Rs 210 crore) to develop the “world’s largest” 750 MW solar power plant in Rewa and another one in Mandsaur in Madhya Pradesh. The MoU was signed in the national capital, a senior official said. “World Bank’s arm – Indian Renewable Energy Development Agency (IREDA)- and Rewa Ultra Mega Solar Limited (RUMSL), a joint venture of the state and the Centre, signed an agreement in New Delhi today,” Principal Secretary of Madhya Pradesh’s New & Renewable Energy Department, Manu Srivastava, told PTI over phone. “The signing of the loan agreement at India Habitat Centre is a major step towards fulfilling Prime Minister Narendra Modi’s mission of 100 GW solar power generation in India by 2022,” he added.

WB is providing a loan of USD 100 million through IREDA for financing infrastructure of solar parks in India,” Srivastava said. “IREDA is the nodal project implementation for the loan,” he added. RUMSL, a joint venture of MP Urja Vikas Nigam and Solar Energy Company of India (SECI) is developing the world’s largest solar power plant in Rewa district and 250 MW solar power plant in Mandsaur.

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