World Bank okays $625-mn aid for India's solar programme

The World Bank’s Board has approved $625 million loan to support India’s grid-connected rooftop solar programme. 

The board also approved a co-financing loan of $ 120 million on concessional terms and a $5 million grant from Climate Investment Fund’s Clean Technology Fund.

The project will finance the installation of at least 400 MW of Grid Connected Rooftop Solar Photovoltaic (GRPV) across India.

These solar PV installations will provide clean, renewable energy, and reduce GHG emissions by displacing thermal generation, said a statement from World Bank
The project will be implemented by the State Bank of India (SBI). SBI will on-lend funds to solar PV developers/aggregators and end-users, who wish to invest in mainly commercial and industrial rooftop PV systems.

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