The European Investment Bank on March 31st, 2017 confirmed new support for solar power generation in India in partnership with the State Bank of India.
The EUR 200 million (INR1,400 Crores)
long-term loan will support total investment of EUR 650 million in five
different large-scale photo-voltaic solar power projects and contribute
to India’s National Solar mission and reduce dependence on fossil fuel
power generation.
Four schemes across the country, with a generation capacity of 530 MWac, have already been identified.
The loan agreement was formally announced in New
Delhi ahead of the inauguration of the first permanent presence in India
of the European Investment Bank by Finance Minister Jaitley, European
Investment Bank President Werner Hoyer and Vice President Andrew
McDowell, responsible operations in India and South Asia.
The EUR 200 million 20 year long-term European
Investment Bank loan will support individual projects following
technical and financial due diligence.
It is expected that projects in Telangana and Tamil
Nadu states, and elsewhere in the country, will be backed by the new
initiative. The European Investment Bank will support investment in
individual solar projects alongside financing from Indian banks and
project promoters.
source: http://www.solarserver.com
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