NEW DELHI: India and the World Bank today signed a USD 98 million loan pact, and a USD 2 million grant agreement to help the country increase power generation capacity through cleaner, renewable energy sources.
The Shared Infrastructure for Solar Parks Project will finance Indian Renewable Energy Development Agency Ltd (IREDA), to provide sub-loans to states to invest in various solar parks, the World Bank said in a statement.
The solar parks will be mostly under the Ministry of New and Renewable Energy’s (MNRE) Solar Park Scheme, it said.
The first two solar parks are in the Rewa and Mandsaur districts of Madhya Pradesh, with targeted installed capacities of 750 MW and 250 MW respectively, it said. (AGENCIES)
Follow our WhatsApp channel