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Germany to fund 125 million euros for renewable energy projects in India

Merkel in India

Renewable energy is one of the key areas of Indo-German partnership mentioned in the Joint Statement of Hannover in April 2015. Image via The Financial Express

Germany and India on Tuesday signed two loan agreements worth 125 million Euros for the Green Energy Corridors’ project in Andhra Pradesh and Himachal Pradesh.

Germany’s development bank, KFW, will fund 57 million Euro for the project at Himachal Pradesh, and 68 million Euro for the Andhra Pradesh project, a press statement from the government said.

According to The Financial Express, the agreements were signed at a time when Germany’s chancellor Angela Merkel is on a state visit in India.

Renewable Energy is one of the key areas of India-German partnership. The financing of the transmission infrastructure of renewable energy projects, the Centre and State grids will be strengthened to evacuate more green energy, the statement said.

“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.

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Posted by on Oct 6 2015. Filed under _featured slider, Asia, Europe, WORLD. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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