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World Bank aids India’s 20,000-MW solar target
Friday, 08 January 2010 21:35


The World Bank will lend $4 billion for renewable energy projects in India.

The World Bank aims to help India install an additional 20,000 megawatts of solar energy capacity by 2022, the Financial Chronicle reported.

The bank is in talks with India’s New and Renewable Energy Ministry to lend financial and technical support for project developers, said Salman Zaheer, the bank’s sector manager for the energy department in South Asia.

Mr. Zaheer also mentioned that they would prepare feasibility reports or projects depending on sites that will be proposed. The bank is eyeing Rajasthan, Gujarat, Karnataka and Tamil Nadu to have major solar potential.

India’s national solar mission is part of eight initiatives drafted under the prime minister’s action plan on climate change. The government has allocated 43 billion rupees ($936 million) for this solar effort.

Meanwhile, the World Bank will lend $4 billion for renewable energy projects in India. The bank already loaned $3.3 billion last year to the country’s power sector.


-    Oliver M. Bayani





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Last Updated on Wednesday, 24 February 2010 21:01