Bloomberg is reporting that Suntech Power Holdings and Canadian Solar will be providing their solar panels to Tata Power for its US$68 million solar project. The 25MW plant in western Gujarat state will use crystalline silicon-based modules to power the solar array.
The solar project has been financed with the help of local banks led by State Bank of India and Export-Import Bank of India. The banks will fund 70% of the project with rupee term loans. Bloomberg noted that Tata Power did not furnish further details on the loans and interest rate.