India could become home to the largest solar array on the planet, but it will take more than $4 billion.
The country made the initial step this week to request a $500 million World Bank loan to help finance the first phase of a solar plant in Rajasthan that would produce 4 gigawatts (GW) of energy. India’s department of economic affairs is evaluating the proposal, according to Indian business magazine, domain-b.com. If approved, the World Bank would then consider loaning $500 million of the project’s $750 million first phase.
Six Indian companies have created a joint venture for the project. They believe the country has the potential to deliver a nearly unfathomable 5,000 trillion kilowatt hours of solar energy.
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