World Bank to support $1 trillion investment in solar power projects
World Bank Group has signed an agreement to help the International Solar Alliance (ISA), consisting of 121 countries led by India, in mobilizing $1 trillion investment by 2030 to boost solar power generation globally.
The World Bank Group will first develop a roadmap to mobilize financing, and then develop financing instruments to support development and deployment of solar energy projects, reports EBR.
The World Bank is already supporting solar energy generation in India, with an approved funding of more than $1 billion to fund Indian solar projects, which will include infrastructure for solar parks, and transmission lines for solar-rich states, reports EBR.
Source: Energy Business Review