Denmark provides sponsorship to 250-MW solar project in India

• A 250-MW photovoltaic or pv (PV) project created by Acme Solar in the Indian state of Rajasthan will obtain the financial backing of Danish state-owned fund IFU as well as UNOPS, a United Nations (UN) organisation.

IFU said in a statement it will certainly take a 39% risk in the project. At the same time, UNOPS will co-invest via the Sustainable Investments in Infrastructure and Innovation (S3i) initiative, taking a 10% passion.

The overall expense of the project is estimated at EUR 150 million (USD 179m). Upon completion, the plant will sell power to Solar Energy Corporation of India Limited (SECI) under a 25-year contract.

This is the first renewable resource project to be signed after last year's launch of the India-Denmark Green Strategic Partnership. IFU said it is making the investment in support of the Danish SDG Investment Fund, which is backed by the Danish government, big regional pension plan funds and various other personal investors.