World Bank financing of USD 100 Million for development of internal infrastructure of solar parks has been planned by Indian Renewable Energy Development Agency Ltd. (IREDA) under the aegis of Ministry of New & Renewable Energy. The World Bank loan is proposed to flow to the interested Solar Power Park Developers (SPPDs) through IREDA.
In addition, the World Bank is providing low cost financing to roof-top solar developers under a $625 million Programme for Results (PforR) to be routed through the State Bank of India. These programmes will increase the availability of debt financing, de-risk commercial financial flows, and build capacity across the solar PV industry to significantly expand the programme of rooftop solar PV across India. The first 100 MW of solar rooftop financing under this loan has just been approved.
Source: Ministry of State (IC) for Power, Coal & New and Renewable Energy and Mines, India
Illustration Photo: Aerial view of Halo Energie’s solar photovoltaic plant in Andhra Pradesh, India (credits: Penn State / Flickr Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic (CC BY-NC-ND 2.0))