India gets 125 mn euro German loan for green energy projects

New Delhi, Oct 6 (IANS) India and the German government-owned development bank KFW have signed two loan agreements worth euro 125 million for financing two projects under the Green Energy Corridor project, an official statement said on Tuesday.

“Government of India and KFW signed here yesterday (Monday) two loan agreements worth euro 125 million for financing two projects under the Green Energy Projects programme – Himachal Pradesh (euro 57 million) and Andhra Pradesh (euro 68 million),” said an Indian finance ministry statement.

“With the Green Energy Corridors, the intra-state network will feed the renewable energy to the respective state grids and the high capacity transmission corridors and inter-state network will connect major renewable energy pockets with the national grid,” it added.

Renewable energy is one of the key areas of the Indian-German partnership, and with this financing of transmission infrastructure, the central and state grids will be strengthened to evacuate more green energy, the statement said.

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