The Asian Development Bank (ADB) will provide India, 150 million US dollars in credit guarantees to increase solar power generation in the country. In a report released in New Delhi, the bank said that the credit will be available to local and foreign commercial banks that finance private sector solar power plants. The report says it will help to mobilise long term funding for solar energy development and support India's efforts to push its programme to diversify energy mix. The report says the bank is also considering to directly financing larger solar power projects in the private sector. AIR correspondent adds that India's solar energy potential is among the best in the world. The government has launched an ambitious Jawarharlal Nehru National Solar Mission last year to commission 20 thousand mega watt of solar energy by 2022.
News On AIR | April 20, 2011 12:39 PM
ADB to provide 150 million US dollars to India