Monday, 16 May 2016
World Bank approves $625-million aid for India's solar programme
NEW DELHI: The World Bank's Board has approved $625 million loan to support India's grid connected rooftop solar programme to generate clean energy.
"The project will finance the installation of at least 400 MW of grid connected rooftop solar photovoltaic ( GRPV ) across India," the World Bank said in a statement.
These solar PV installations, it said, will provide clean, renewable energy, and reduce GHG emissions by displacing thermal generation
It will be implemented by the State Bank of IndiaBSE -0.90 % , which will on-lend funds to solar PV developers/ aggregators and end-users, who wish to Invest in mainly commercial and industrial rooftop PV systems.
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