Anil Ambani-promoted Reliance Power (RPower) on Friday said it has secured a Rs 400

RELATED ARTICLES Tapi pipeline perfect example of energy diversification: US India to move WTO this week against US visa fee hike Dr Reddy's launches lansoprazole capsules in US market Nasscom concerned over US visa probe on Indian firms Rajat Gupta to face US jury in insider trading case

crore funding from US Exim Bank for it solar PV project in Rajasthan.

“RPower gets Rs 400 crore US Exim Bank funding for solar power project in Rajasthan,” company spokesperson said in an email statement on Friday. The loan was approved on August 25.

Rpower would set up a 40 mega watt solar photo voltaic (PV) project in Rajasthan. The unit is expected to be commissioned by March 2012.

The long term power purchase agreement (PPA) for PV project has been signed with Reliance Infrastructure at MERC approved tariff. Equipment orders for solar PV project have been placed with supplier from USA. The 40 mw project will be eligible for Carbon credits, the company said.

At the same time, RPower also plans to set up a 100 mw concentrated solar power (CSP) project to be commissioned by May 2013. The long term PPA for the CSP project is signed with NTPC Vidyut Vyapar Nigam at Rs 11.97 per unit, RPower said.

This CSP unit will be developed under a special purpose vehicle of R-Power. The project can be upgraded by another 200 mw, which will push the cumulative capacity at single location to 400 mw.