The International Finance Corporation (IFC) will finance a 600 MW solar power park that is coming up in the state of Uttar Pradesh. TUSCO, a joint venture between THDC India and the Uttar Pradesh New & Renewable Energy Development Agency will be in charge of infrastructure development.
THDC India is a hydropower development corporation with a capacity of 2 GW. The forthcoming 600 MW park in Uttar Pradesh is part of an endeavour under the Central Government’s Ultra Mega Renewable Energy Power Park scheme. The Ministry of New and Renewable Energy (MNRE) funds infrastructure in Ultra Mega Solar Parks under this programme. TUSCO will build power transmission as well as infrastructural support. The company will receive up to $26,800 per MW in funding.