Bhageria Industries, a manufacturer and supplier of dyes and
intermediates, secured a Rs.950 million (~$14 million) loan with Export Import
Bank of India (EXIM Bank). The funds will be utilized to set up 30 MW of large-scale
grid-connected solar projects at Ahmednagar in the state of Maharashtra.
The deal was approved by Bhageria Industries’ Board of
Directors at a meeting held at the company’s Registered office on December 20,
2016, stated a release
by the company.
According to Mercom’s India Solar Project Tracker, the
capacity was tendered under JNNSM Phase-II, Batch-III, Tranche-I. The solar
developer won bids to set up three solar projects of 10 MW each at Ahmednagar
by quoting a tariff of Rs.4.41 (~$0.065)/kWh at zero viability gap funding.