Rs.1 Billion Boost for India's Solar Sun
POWER & RENEWABLE ENERGY

Rs.1 Billion Boost for India's Solar Sun

Germany has further solidified its commitment to supporting India's transition to renewable energy with a fresh ?200 million loan package. This latest financial injection brings KfW, the German development bank, total support for the German-Indian solar partnership to a staggering ?1 billion since 2017.

The loan agreement, signed on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), comprises two parts:

?70 million loan to the State Bank of India (SBI): This will be used to refinance loans to investors for solar farms with a total capacity of around 180 MW.

?130 million loan to the Indian Ministry of Finance: This will support the development of ground-mounted solar systems in the state of Maharashtra, with a total capacity of 330 MW, along with connecting power lines to the nearest substation.

"KfW is helping India to expand its solar energy infrastructure with the aim of meeting the country's rapidly-increasing demand through renewable energies as much as possible," stated Christiane Laibach, Member of the Executive Board of KfW Group. "We wish to support India in contributing to a broadly effective, technically and economically efficient, and socially and environmentally sustainable energy supply."

The environmental benefits of this partnership are significant. The projects financed by the two new loans are expected to reduce India's greenhouse gas emissions by an impressive 650,000 tons per year.

This isn't the first time KfW has extended a helping hand to India's solar ambitions. Under the "German-Indian Solar Partnership I," two loans of ?150 million each were previously granted to SBI. In total, ten contracts amounting to around ?1 billion have been concluded with various financial institutions and the Indian state.

The impact of KfW's involvement in India's solar journey is undeniable. A remarkable 4 GW of solar power output has been installed, providing electricity from renewable sources to 5 million people. This translates to a staggering 6 million tons of CO2 emissions saved annually across India.

Germany's unwavering support for India's solar energy expansion exemplifies a positive and impactful international collaboration in the fight against climate change. As India strives to meet its ambitious renewable energy targets, KfW's continued partnership promises to illuminate the path forward with a brighter, cleaner future.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Germany has further solidified its commitment to supporting India's transition to renewable energy with a fresh ?200 million loan package. This latest financial injection brings KfW, the German development bank, total support for the German-Indian solar partnership to a staggering ?1 billion since 2017. The loan agreement, signed on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), comprises two parts: ?70 million loan to the State Bank of India (SBI): This will be used to refinance loans to investors for solar farms with a total capacity of around 180 MW. ?130 million loan to the Indian Ministry of Finance: This will support the development of ground-mounted solar systems in the state of Maharashtra, with a total capacity of 330 MW, along with connecting power lines to the nearest substation. KfW is helping India to expand its solar energy infrastructure with the aim of meeting the country's rapidly-increasing demand through renewable energies as much as possible, stated Christiane Laibach, Member of the Executive Board of KfW Group. We wish to support India in contributing to a broadly effective, technically and economically efficient, and socially and environmentally sustainable energy supply. The environmental benefits of this partnership are significant. The projects financed by the two new loans are expected to reduce India's greenhouse gas emissions by an impressive 650,000 tons per year. This isn't the first time KfW has extended a helping hand to India's solar ambitions. Under the German-Indian Solar Partnership I, two loans of ?150 million each were previously granted to SBI. In total, ten contracts amounting to around ?1 billion have been concluded with various financial institutions and the Indian state. The impact of KfW's involvement in India's solar journey is undeniable. A remarkable 4 GW of solar power output has been installed, providing electricity from renewable sources to 5 million people. This translates to a staggering 6 million tons of CO2 emissions saved annually across India. Germany's unwavering support for India's solar energy expansion exemplifies a positive and impactful international collaboration in the fight against climate change. As India strives to meet its ambitious renewable energy targets, KfW's continued partnership promises to illuminate the path forward with a brighter, cleaner future.

Next Story
Infrastructure Transport

Indian Railways Marks New Milestone with 4.5 km Long ‘Rudrastra’ Trial

Indian Railways has successfully conducted the trial run of Asia’s longest freight train, named ‘Rudrastra’, achieving a new milestone in cargo transportation, as per news reports. The 4.5 km-long train began its trial from Ganjkhwaja railway station in Chandauli, Uttar Pradesh, and travelled to Garhwa in Jharkhand. Covering a distance of 209 km in 5 hours and 10 minutes, it maintained an average speed of 40.5 km per hour. The train was formed by combining three long-haul racks, with ..

Next Story
Infrastructure Energy

UltraTech Launches India’s First On-Site Hybrid RTC Renewable Energy Project

UltraTech Cement has operationalised a 7.5 MW round-the-clock (RTC) hybrid renewable energy project at its Sewagram Cement Works in Gujarat. The first-of-its-kind solution combines bifacial solar modules with trackers, wind energy and battery storage, co-located on-site, to ensure uninterrupted power for cement manufacturing without grid reliance. The project was executed in collaboration with clean energy solutions provider Gentari. Installed as a behind-the-meter system, it is the country..

Next Story
Infrastructure Transport

Patna Metro Trials Successful, Red Line Priority Corridor to Launch This Month

Patna is set to roll out its first metro rail service later this month, with successful trial runs conducted on the Red Line priority corridor, the Patna Metro Rail Corporation announced.On 7 September, a metro train completed a test run between the Patna depot and Bhootnath station. Officials said the trials involved rigorous checks of rolling stock fitness, overhead electrification (OHE), and track alignment and stability to ensure operational safety and performance.The corridor from the New Pataliputra Bus Terminal to Bhoothnath has been designated as the priority stretch and will be the fi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?