United Nations Office for Project Services (UNOPS) has signed an agreement to invest in a 250MW solar plant in Rajasthan, India.
The total value of the project is nearly US$200 million. UNOPS’ share is 10%, while around 25% is financed through equity contributions by co-investors.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Co-investors include Acme Solar, an independent power producer (IPP) in India, and IFU, a Danish investment fund for developing countries. Finland-based UNOPS will be involved in the operation of the project.
In 2020, the governments of India and Denmark signed what was termed a ‘green strategic partnership’ and after its “first investment” under the agreement, IFU’s climate vice president Reik Haahr Müller hopes the project will be a “stepping-stone for creating an even stronger green cooperation between India and Denmark, going forward.”
The agreement is “a key milestone” in ACME’s desire to develop 25GW of renewable energy projects, and “comes in line with India’s plans to achieve 450GW of renewable energy by 2030,” said Manoj Upadhyay, founder and chairman of ACME.
