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Indian solar energy to get $1 bn from World Bank
http://www.business-standard.com/article/economy-policy/indian-solar-energy-to-get-1-bn-from-world-bank-116063000413_1.html[font face=Serif][font size=5]Indian solar energy to get $1 bn from World Bank[/font]
[font size=4]World Bank Group President Jim Yong Kim said that India's plans in the sector would have far-reaching global implications[/font]
Shreya Jai | New Delhi
July 1, 2016 Last Updated at 00:35 IST
[font size=3]The World Bank Group signed an agreement with the International Solar Alliance (ISA), consisting of 121 countries, led by India. It has committed to provide $1 billion support to Indian solar energy projects.
The World Bank-supported projects include solar rooftop technology, infrastructure for solar parks, bringing innovative solar and hybrid technologies to market and transmission lines for solar-rich states. The cumulative investment in solar would be the World Bank’s largest financing in this sector for any country.
ISA was launched at the UN Climate Change Conference in Paris at end-November last year, by Prime Minister Narendra Modi and French President François Hollande. Through ISA, India aims to collaborate with global agencies and mobilise around $1 trillion of investment in solar energy by 2030.
…
The World Bank also signed an agreement to give close to $625 million for the Grid Connected Rooftop Solar Programme under the National Solar Mission. The project will finance the installation of around 400 megawatt of solar photovoltaic power projects. The development of a $200-million shared infrastructure for the Solar Parks Project under a public-private partnership model, is also under preparation, said the Bank. [/font][/font]
[font size=4]World Bank Group President Jim Yong Kim said that India's plans in the sector would have far-reaching global implications[/font]
Shreya Jai | New Delhi
July 1, 2016 Last Updated at 00:35 IST
[font size=3]The World Bank Group signed an agreement with the International Solar Alliance (ISA), consisting of 121 countries, led by India. It has committed to provide $1 billion support to Indian solar energy projects.
The World Bank-supported projects include solar rooftop technology, infrastructure for solar parks, bringing innovative solar and hybrid technologies to market and transmission lines for solar-rich states. The cumulative investment in solar would be the World Bank’s largest financing in this sector for any country.
ISA was launched at the UN Climate Change Conference in Paris at end-November last year, by Prime Minister Narendra Modi and French President François Hollande. Through ISA, India aims to collaborate with global agencies and mobilise around $1 trillion of investment in solar energy by 2030.
…
The World Bank also signed an agreement to give close to $625 million for the Grid Connected Rooftop Solar Programme under the National Solar Mission. The project will finance the installation of around 400 megawatt of solar photovoltaic power projects. The development of a $200-million shared infrastructure for the Solar Parks Project under a public-private partnership model, is also under preparation, said the Bank. [/font][/font]