Home Featured International Multilateral Financial Institutions providing Technical and Financial assistance for Solar Power Projects in the Country: Shri R.K. Singh
International Multilateral Financial Institutions providing Technical and Financial assistance for Solar Power Projects in the Country: Shri R.K. Singh

International Multilateral Financial Institutions providing Technical and Financial assistance for Solar Power Projects in the Country: Shri R.K. Singh

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Minister of State (IC) for Power and New & Renewable Energy, Shri Raj Kumar Singh, in a written reply to a question on support to solar power projects in the country, in Lok Sabha today informed that the Government has various solar power programmes which are being implemented through assistance of World Bank, International Finance Corporation and other multilateral financial institutions.

The Minister stated that the World Bank is providing assistance of USD 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. Also, 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, Shri Singh added.

Further, the Minister stated that a concessional loan of USD 620 Million has been provided by the World Bank to the State Bank of India and of USD 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. The assistance under such schemes are available to all States/UTs 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, Shri Singh informed.

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Source: PIB

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Anand Gupta Editor - EQ Int'l Media Network

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