World Bank adds USD-23m grant to Indian rooftop solar programme
Nov 18, 2016 17:22 CET
November 18 – The World Bank this week announced an additional grant of USD 22.93 million (EUR 21.6m) to support its grid-connected rooftop solar photovoltaic (GRPV) programme in India.
The bank approved the overall USD-625-million GRPV programme, under which the State Bank of India (SBI) on-lends funds to solar developers and end-users, earlier this year. The programme mainly supports commercial and industrial rooftop solar projects.
The institution said the additional grant will provide incentives to SBI to lend to riskier categories of customers such as non-banking financial institutions and small and medium enterprises (SMEs). The grant also includes knowledge support to different stakeholders in the GRPV market, from policy makers to project developers and SMEs.
“This additional financing will strengthen the capacity of key institutions and help in bringing international best practices to support the program fulfill its aim of developing at least 400 MW of GRPV across India,” said Junaid Ahmad, World Bank Country Director in India.
(USD 1.0 = EUR 0.940)
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