Multilateral funding agency Asian Development Bank (ADB) will provide a long-term loan of up to Rs 250 crore to Reliance Power for its 40 MW Dahanu Solar Power Project located at Jaisalmer in Rajasthan. The plant marks RPower’s entry into the solar energy business and is part of the company’s plans to expand the renewable energy portfolio.
The project will support the government’s push to promote environmentally sustainable energy growth while diversifying the country’s sources of energy. Further, the Export Import Bank of the US is also providing funding for the project that is expected to cost around $147 million.
Reliance Infrastructure will buy the electricity under a long term power purchase agreement to accomplish its renewable purchase obligations set by electricity regulators - the first fully private sector transaction for solar power. The power will be distributed to households in Mumbai.
By supplying electricity from a clean and renewable source, India will avoid around 41,000 tonnes of carbon dioxide emissions a year. The project complements other ADB initiatives in the solar sector in India, including a financing facility that provides partial credit guarantees to lenders willing to fund solar power projects of up to 25 MW.
As a part of its Asia Solar Energy Initiative, ADB aims to help develop, finance and commission 3,000 MW of solar power generation capacity in its developing member countries by mid 2013.
| Company Name | CMP |
|---|---|
| NTPC | 358.65 |
| Tata Power | 410.80 |
| Power Grid Corp | 330.90 |
| Adani Power | 479.85 |
| Torrent Power | 1499.95 |
| View more.. | |
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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