CaptureSolar Energy Ltd. raised $107 million for a solar park to supply Indian businesses suffering from rising costs for power generated mostly from coal.
The utility will get 86 percent of the $125 million for the project from Cyprus-based Concept Solutions & Innovations Ltd., CaptureSolar Chief Executive Officer Raju Bhosale said today by phone. Pune-based CaptureSolar will pay for the rest.
The 75-megawatt photovoltaic park will be completed in two phases by March 2015 and charge about 6 rupees (10 U.S. cents) a kilowatt-hour under a 25-year contract, Bhosale said. The price is about 8 percent below the level industrial and commercial businesses currently pay, he said.
via CaptureSolar Raises $107 Million for India Solar Project – Businessweek.
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