Union Cabinet has approved a post facto agreement with Germany to expand bilateral cooperation in the field of solar energy. The cabinet, at its meeting yesterday, approved a Memorandum of Understanding (MoU), which was signed in October, 2015, between India and Germany, to expand bilateral development cooperation in the field of Solar Energy by increasing use of solar energy in India through technical as well as financial cooperation. <br/><br/>Under the agreement, Germany will provide concessional loans in the range of one billion Euros over the next five years through Kreditanstalt fur Wiederaufbau (KfW). The funds of KfW will also be utilized for providing soft loans to the end-users through partner banks. An official release said, the MoU will help in strengthening bilateral cooperation between the two countries. India has set an ambitious target of having 100 GW solar power generation capacity by 2022 under the National Solar Mission.