Madhya Pradesh Rewa solar plant to receive loan from World Bank

Posted on:15 Mar 2017 09:34:47
Madhya Pradesh Rewa solar plant to receive loan from World Bank
15 March 2017 Current Affairs: An international financial institution, World Bank has agreed to provide loan to develop internal transmission arrangements of the upcoming Rewa Ultra Mega Solar (RUMS) project in Madhya Pradesh.

This was officially announced by  Public Relations Department official in New Delhi on March 14, 2017

RUMS become India’s first solar power project of the country to receive a loan under CTF

It will provide 75% of the loan amount with an interest rate of only 0.25% and remaining 25 % of the loan amount under its Clean Technology Fund (CTF), money will be provided at an interest rate of only 0.25 per cent,” a state Public Relations Department official said

Rewa Ultra Mega Solar is a proposed solar power plant in the Rewa district of Madhya Pradesh, with a total installed capacity of 750 MW.

Project is anticipated to start power production in 2018, it is one of the largest single-site solar power plant in India

The installation of this solar power project would save Rs 14,000 crore for the state.

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