US-based International Finance Corporation (IFC) has clinched an agreement with the Madhya Pradesh government for an ultra-mega solar plant to be set up with a capacity of 750 MW in Rewa district of the state.
As per the agreement, IFC would be providing its services as a financial advisor.
The agreement was signed between Manu Shrivastava, principal secretary for renewable energy for MP, and IFC country manager Jun Zang for a project defined as the largest single-site solar power project in the world.
Rajendra Shukla, MP energy minister, said: “Successful implementation of the Rewa Ultra-Mega Power project will be a key milestone for Madhya Pradesh’s outstanding efforts and leadership in renewable energy and the Centre’s remarkable vision on solar power.”
IFC is working with the Indian government to assist in meeting its large-scale solar energy generation goals.