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German Bank Plans to Invest in Green Energy Projects in India

Editorial Checklist Reviewed
Feb 23 2011

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KfW, a German development bank, has earmarked 800 million euros for renewable energy projects in India. The government-owned bank finances Indian government agencies that provide funds for public and private investors or execute renewable energy projects by themselves.

KfW has entered a 52 million euro loan agreement with the National Housing Bank (NHB) for promoting residential energy efficiency projects. It will also extend a 200 million euro line of credit to the Indian Renewable Energy Development Agency (IREDA). KfW has already provided 140 million euros to IREDA.

The German bank plans to sign a 100 million euro loan agreement with  NTPC for a solar plant. REC is set to receive 100 million euros for investment in renewable energy projects.

KfW also plans to promote renewable energy projects by providing funds to organizations such as North Eastern Electric Power Corporation (NEEPCO), SIDBI, Power Finance , India Infrastructure Finance Company (IIFCL), Energy Efficiency Services (EESL), the Maharashtra State Electricity Generation Company (MAHAGENCO) and NABARD.

Source:

http://www.kfw.de

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