The Indian Renewable Energy Development Agency (IREDA) will soon enter agreements with banks in Germany and Japan to access over $630 million to be used for the promotion of renewable energy projects in India.
IREDA is one of the nodal agencies that provides monetary help for setting up of renewable energy infrastructure in India. It was established in 1987 under the administrative control of the Ministry of New and Renewable Energy. Its main function is to provide soft loans for renewable energy-based power plants and energy-efficiency projects.
The agency is likely to sign an agreement with the German KfW bank in February to get access to soft loans worth over $260 million. It is also likely to sign a deal with the Japan International Cooperation Agency in March for loans worth over $360 million.
See also: The Solar Future India Conference in New Delhi: The Future of Solar PV Energy in India
German, Japanese Banks to Offer $630 Million in Renewable Energy Loans to India | CleanTechies Blog - CleanTechies.com
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