• News Desk

INDIA GETS $1 BILLION LOAN FROM WORLD BANK


The World Bank on Thursday announced $ 1 billion in support of India’s ambitious solar generation plans, its largest financing of solar projects for any country in the world.The projects now under preparation include solar rooftop technology, infrastructure for solar parks, bringing innovative solar and hybrid technologies to the market, and transmission lines for solar-rich States.The commitment includes an agreement for a $ 625 million grid-connected rooftop solar programme for financing the installation of at least 40 megawatts of solar photovoltaic installations.Prime Minister Narendra Modi and World Bank Group president Jim Yong Kim, who is on two-day trip to India, discussed the emphasis the multilateral institution is laying on accelerating India’s renewable energy push.

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