World Bank’s aid of $625 million for solar projects in India

World Bank has given a loan of $625 million for the development of internal infrastructure of solar parks in India to be developed by Indian Renewable Energy Development Agency Ltd. (IREDA) under the aegis of Ministry of New & Renewable Energy.

In collaboration with State Bank of India, World Bank will provide this loan to interested Solar Power Park Developers (SPPDs). The loan will be disbursed with the help of IREDA.

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