Government of India Ministry of New and Renewable Energy – World Bank Loan for Solar Projects
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. This was stated by Shri Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy and Mines in a written reply to a question in the Lok Sabha today.
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, the Minister added.