The World Bank plans to introduce a $100-million credit guarantee scheme to boost India’s rooftop solar programme. Reportedly, the scheme will allow micro, small, and medium enterprises (MSMEs) to avail concessional debt financing for setting up rooftop solar units. This scheme, along with State Bank of India (SBI) and the MSME ministry will help MSMEs access credit of around $1 bn. Rooftop solar installations are part of India’s renewable energy target of 175 GW to help reduce its carbon footprint by 33-35 per cent from the 2005 levels, as part of global climate change transition commitments adopted by 195 countries in Paris in 2015.
