Indian banks gets financing support for projects
World Bank, International Finance Corporation and other multilateral financial institutions are assisting India’s solar power programmes, parliament was told on 4 Jan 2018.
The World Bank is providing assistance of US$100 Million for development of internal infrastructure of solar parks a programme being implemented by the Indian Renewable Energy Development Agency Ltd (IREDA) under the aegis of this Ministry.
Likewise, the International Finance Corporation (IFC) has signed an agreement with the State government of Madhya Pradesh to help them in setting up of various solar PV power projects, said Minister of State (IC) for Power and New & Renewable Energy, Raj Kumar Singh, in a written reply to the house.
Further, the Minister stated that a concessional loan of US$620 Million has been provided by the World Bank to the State Bank of India and US$500 million by the Asian Development to the Punjab National Bank for financing of grid connected rooftop solar projects in Industrial and Commercial sectors.
Technical Assistance is also available for promotion of rooftop systems under World Bank, Asian Development Bank, USAID and GIZ assistance, he said.
The assistance under such schemes are available to all States/Union Territories depending on requirement and demand.
The solar and wind power projects are very competitive as compared to conventional power projects. The lowest tariffs in solar and wind discontinued recently have come down to Rs.2.44/kWh and Rs.2.43/kWh, respectively, said Singh. fii-news.com
