IFC offers $50 mn to project

International Finance Corporation (IFC), a member of the World Bank Group has announced to lend $50 mn to two wholly-owned subsidiaries of Continuum Wind Energy (India) to expand access to clean energy, and help reduce greenhouse gas emissions. The corporation has also helped mobilise a loan of $100 mn for the project from YES Bank. The financing will be used to construct a 170 MW wind power plant in Madhya Pradesh. The project will annually generate 330 GW hours of clean power.