Japan 'backs 200MW Indian solar plan'

Mizuho Corporate Bank and a consortium of Japanese companies are to develop a solar power plant in India of up to 200MW in size, according to a report in Japan.

The project, to be built in Gujarat state, will cost about 20-30bn yen ($214m-$321m), The Nikkei newspaper says.

Mizuho signed a deal with Gujarat authorities in January and plans to sell the electricity generated to the state utility.

Gujarat has installed almost 700MW of  PV power capacity and has a target to reach 3GW by the end of 2015.

Mizuho has backed a number of solar projects in Japan and overseas.

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