Government inks Loan Agreement with World Bank for Shared Infrastructure for Solar Parks Project
India Signs Loan Agreement with World Bank for USD 100
Million for “Shared Infrastructure for Solar Parks Project”
A Guarantee Agreement for IBRD/CTF loan of USD 98 million
and Grant Agreement for USD 2 million for the “Shared Infrastructure for Solar
Parks Project” was signed with the World Bank.
A Loan Agreement was also signed by Mr K S Popli, Chairman
and Managing Director, India Renewable Energy Development Agency Ltd. (IREDA)
and Mr Hisham A. Abdo, Acting Country Director, World Bank India, on behalf of
the World Bank.
The project consists of two components viz.
(i) Shared Infrastructure for Solar Parks (estimated total
project cost of USD 100 million, including USD 75 million in IBRD loan and USD
23 million in CTF Loan) and (ii) Technical Assistance (USD 2 million in CTF
The objective of the project is to increase solar generation
capacity through establishment of large-scale parks in the country.
The project will help establish large-scale solar parks and
support the government’s plan to install 100 Gigawatts (GW) of solar power out
of a total renewable-energy target of 175 GW by 2022.