Vikram Solar Ltd has inked a retainer letter with the US International Development Finance Corporation (DFC) for $200 million in funding for its 3 GW cell and module manufacturing plant at Gangaikondan in Tamil Nadu.

The agreement was signed at the climate conference which was recently concluded in Dubai, Vikarm Solar said in a statement.

Vikram Solar’s chairman and managing director Gyanesh Chaudhary said,"Partnering with DFC is a significant step for Vikram Solar towards fulfilling our clean energy and sustainability commitments."

Jake Levine, chief climate officer at DFC said that the development finance institution has started its diligence process for the funding.