India and World Bank ink $98 million loan pact for renewable energy
Posted on:21 Nov 2017 14:51:21
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21 November 2017 Current Affairs: India and the World Bank signed a $98 million loan pact and a $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 Limited(IREDA), to provide sub-loans to states to invest in various solar parks.
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.
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