Rooftop solar projects to get $1.5 billion foreign aid
The World Bank, Asian Development Bank and the New Development Bank formed by the BRICS nations are providing loans to boost India’s rooftop solar programme.
“We are getting $500 million (Rs 3,345 crore) from each of them to fund rooftop solar projects, mostly in the industrial and commercial sector,” said Upendra Tripathy, secretary at the Ministry of New and Renewable Energy (MNRE).The loans are likely to be disbursed through leading public sector banks and financial institutions.
Last week, the Cabinet Committee for Economic Affairs approved hiking MNRE budget for setting up grid-connected rooftop solar systems to Rs 5,000 crore from Rs 600 crore. Read More…
Rooftop solar projects to get $1.5 billion foreign aid
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