World Bank approves $625 m loan to support rooftop solar programme in India

The World Bank’s Board has approved USD 625 million loan to support the central government’s programme to generate electricity from rooftop solar power plantsThe Board also approved a co-financing loan of USD 120 million on concessional terms and a USD 5 million grant from Climate Investment Fund’s (CIF) Clean Technology Fund.

The project will finance the installation of at least 400 MW of grid connected rooftop solar photovoltaic (GRPV) across IndiaThese solar photovoltaic (PV) installations will provide clean, renewable energy, and reduce GHG emissions by displacing thermal generation. However, the overall potential demand for rooftop solar is estimated at about 124,000 MW. 

From the side of India, this programme will be implemented by the State Bank of India, which will on-lend funds to solar PV developers/ aggregators and end-users, who wish to invest in mainly commercial and industrial rooftop PV systems. 

So let’s discuss some questions related to this post :
1. How much amount have been approved by the World Bank to support rooftop solar programme in India ?
2. The rooftop solar programme in India will be implemented by which bank ?

Courtesy : The Hindu


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