Almost 200,000 tons of annual CO2 emissions are set to be removed from the atmosphere after Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, secured financing for the 138 MW dc Andhra Pradesh solar farm in India.
The agreement, which was announced at January’s World Future Energy Summit (WFES) in Abu Dhabi, marks Abdul Latif Jameel Energy’s first large-scale solar installation in India.
|Roberto de Diego Arozamena, CEO of Abdul Latif Jameel Energy, said: “This project is a clear example of Abdul Latif Jameel Energy’s commitment to deepen our presence in emerging solar markets. There is great potential to develop renewable energy in India and we look forward to bringing our deep knowledge, experience and commitment to local markets and sustainability to this project.”
Approximately 35,000 homes will be powered by the new development, which is located 200km from Bangalore in Ananthapuramu Solar Park.
The financing agreement has been closed with the International Finance Corporation (IFC), the Financial Company of Development of the Netherlands (FMO), and the Indian Renewable Energy Development Agency (IREDA).
In January, Abdul Latif Jameel Energy also revealed a solar-wind hybrid project in Chile that will power almost 250,000 homes, as well as the financial close on a solar project in Mexico that will power 150,000 homes.