The IFC Funds India’s 100 MW Tidong Hydro Project
Green energy producer NSL Renewable Power has received US$5 million in financing from the International Finance Corporation (IFC) that will be used in part to fund its 100 MW Tidong hydroelectric project. IFC, an affiliate of the World Bank, said the investment will address both power supply issues and climate change mitigation.
“IFC’s support to NSL Renewable Power will also help the company benchmark its environmental and social standards to global best practices,” Thomas Davenport, IFC’s director for south Asia, said in a release.
It was reported earlier this month that the Tidong hydropower plant had received a $30 million investment from the Asian Development Bank (ADB). The Tidong plant will be located in India’s northern Himachal Pradesh state. HydroWorld.com reported in July 2011 that Alstom India had signed a contract with NSL Tidong Power Generation Pvt. Ltd. to supply two 50 MW turbine units for the project.