The Indian Renewable Energy Development Agency (IREDA) has planned for World Bank financing of USD 100 million for the development of internal infrastructure of solar parks under the aegis of the Ministry of New and Renewable Energy, said a government release on Thursday.
The World Bank loan is proposed to flow to the interested solar power park developers (SPPDs) through IREDA, said Power Minister Piyush Goyal.
In addition, the World Bank is providing low-cost financing to rooftop solar developers under a USD 625 million Programme for Results (P for R) 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.