Nordic investors team up with Indian IPP for 250MW solar plant in Rajasthan

Facebook
Twitter
LinkedIn
Reddit
Email
The plant will be constructed in the North-Western state of Rajasthan. Image: ReNew Power.

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.

This article requires Premium SubscriptionBasic (FREE) Subscription

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

Or continue reading this article for free

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.

Read Next

May 30, 2025
Waaree Solar Americas – a subsidiary of Indian solar manufacturer Waaree Energies – has signed a 586MW solar module supply agreement with an undisclosed independent power producer (IPP).
May 29, 2025
Singapore-based engineering firm Sembcorp has received a letter of award from Indian public sector power company SJVN for 150MW of solar power and a 300MWh battery energy storage system (BESS).
Premium
May 29, 2025
PV Talk: Global Solar Council CEO Sonia Dunlop tells Shreeyashi Ojha why the solar industry needs collective action to combat political and supply-chain disruption.
May 28, 2025
The expansion is 100% compliant with the Indian government's requirement of Bureau of Indian Standards (BIS).
May 27, 2025
India has shipped 12.5GW of module capacity in the first quarter of 2025, according to data from energy consultancy JMK Research.
May 20, 2025
Solar PV additions have slowed down in the first quarter of 2025 in India, with 6.7GW, according to a report from Mercom India Research.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 8, 2025
Asia