Reliance Power (R-Power) has raised external commercial borrowings of around Rs 1,588 crore to fund its solar power project in Rajasthan.

The 100-MW concentrated solar power (CSP) project is coming up at Dhursar in Jaisalmer district of the state. Rajasthan Sun Technique, a wholly owned R-Power subsidiary, is developing the CSP project at a total cost of over Rs 2,250 crore, mostly through ECBs. The Asian Development Bank is financing the CSP project, along with Dutch development bank FMO, US-EXIM and Axis Bank. The project is being developed under the Jawaharlal Nehru National Solar Mission, which has set a target of 20 GW solar power by 2022.

R-Power had awarded the solar field contract to Areva Solar Inc as its solar technology partner. The project uses the Compact Linear Fresnel Reflector technology developed by Areva Solar.