India on 20 November 2017 signed USD 100 million loan agreement with the World Bank for Shared Infrastructure for Solar Parks Project.
The USD 100 million loan agreement includes a IBRD Guarantee Agreement of USD 98 million and a Grant Agreement of USD 2 million.
The project agreement was signed by Sameer Kumar Khare, Joint Secretary in the Department of Economic Affairs, and by Hisham A Abdo, Acting Country Director of World Bank India.
While, the Loan Agreement was signed by K S Popli, Chairman and Managing Director of India Renewable Energy Development Agency Ltd. (IREDA) and Hisham A Abdo, Acting Country Director of World Bank India.
Key Highlights
• The project consists of two components- Shared Infrastructure for Solar Parks with an estimated total project cost of USD 100 million and the Technical Assistance of USD 2 million in CTF Grant.
• The objective of the project is to increase solar generation capacity through establishment of large-scale parks in the country.
• The project will help in establishing large-scale solar parks and will support the Union Government’s plan to install 100 Gigawatts (GW) of solar power, out of the total renewable energy target of 175 GW by 2022.
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