India to receive €2B through KfW for renewable energy projects

India: German developmental bank KfW has signed a €200 million loan agreement with India’s state-owned Rural Electrification Corporation to support the development of renewable energy in rural areas throughout India, which is part of the bank’s €1 billion portfolio committed to the Indian Green Energy Corridors Programme designed to support the development of the evacuation and transmission infrastructure for renewable energies, according to a spokesman from kFW.

The €200 million loan will contribute to the development of around 200 MW worth of clean energy which could supply electricity equivalent to the needs of 270,000 rural homes, reports Clean Technica.

Also, concessional funding of up to €1 billion is envisaged to be provided by 2020 under the Indo-German Solar Energy Partnership, according to Dr. Charis Pöthig of KfW. This cooperation will particularly focus on Energy Efficiency and Energy Distribution Investments, cites Clean Technica.

Source: Clean Technica