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India turns to Germany’s KfW for USD-1.1bn solar loan

SEENEWS | IVAN SHUMKOV — India has asked the German development bank KfW for a USD-1.1-billion (EUR 978m) low-cost loan to support rooftop solar installations, the secretary at the Ministry of New and Renewable Energy told Reuters on Tuesday. KFW has agreed in principle to consider the request by India’s prime minister Narendra Modi. The German state-owned lender has already offered a EUR-1.38-billion (USD 1.55bn) loan to India for the construction of a “green” power transmission corridor through nine states. According to Tripathy, India has also requested USD 750 million from the World Bank and a further USD 500 million […]

By Derick Lila May 14, 20150

SEENEWS | IVAN SHUMKOV —
India has asked the German development bank KfW for a USD-1.1-billion (EUR 978m) low-cost loan to support rooftop solar installations, the secretary at the Ministry of New and Renewable Energy told Reuters on Tuesday.

KFW has agreed in principle to consider the request by India’s prime minister Narendra Modi.

The German state-owned lender has already offered a EUR-1.38-billion (USD 1.55bn) loan to India for the construction of a “green” power transmission corridor through nine states.

According to Tripathy, India has also requested USD 750 million from the World Bank and a further USD 500 million from the Asian Development Bank for its green programmes.

India aims to have 175 GW of renewable power capacity by 2022, including 100 GW of solar and 60 GW of wind.

Derick Lila

Derick is a Clark University graduate—and Fulbright alumni with a Master's Degree in Environmental Science, and Policy. He has over a decade of solar industry research, marketing, and content strategy experience.