World Bank promises $1 billion to support India’s solar goals

Deal includes a collaboration on increasing solar energy use around the world, with the goal of mobilizing $1 trillion in investments by 2030.



The World Bank Group says it hopes to provide more than $1 billion this year to support India’s goal of 100 gigawatts of solar energy by 2022.

“India’s plans to virtually triple the share of renewable energy by 2030 will both transform the country’s energy supply and have far-reaching global implications in the fight against climate change,” said WBG President Jim Yong Kim.

“Prime Minister Modi’s personal commitment toward renewable energy, particularly solar, is the driving force behind these investments. The World Bank Group will do all it can to help India meet its ambitious targets, especially around scaling up solar energy.”

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