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Banking - General Knowledge Questions
Which Bank will provide a loan of up to Rs 754 crore to SAEL Industries Ltd for setting up biomass power plants in Rajasthan?
A)
World Bank
B)
Reserve Bank of India
C)
Asian Development Bank
D)
Standard Chartered

Correct Answer :   Asian Development Bank

Asian Development Bank (ADB) will provide a loan up to Rs 754 crore to SAEL Industries Ltd for setting up of biomass power plants in Rajasthan.

* The lender and SAEL have entered into a loan agreement, according to a release on Friday (24th March 2023).

* SAEL is a solar and agricultural waste-to-energy company. It has developed a business model where crop residues are used as fuel in waste-to-energy projects.

* The company aims to grow its portfolio to 3.5 GW over the next four years by adding 100 MW of new biomass and 600 MW of new solar capacity annually..

Source : Economic Times

Published On : March 27, 2023
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