At the tenth International Solar Alliance (ISA) monthly get-together and stakeholders meeting, held today in Noida, India, Interim Director-General of ISA announced that the World Bank is handling the common risk mitigation mechanism, and they need two years to complete the feasibility study. ISA believes that CRMM will help to get access to finance at lower cost and in larger volumes for solar-related projects in ISA member countries. European Investment Bank is developing a financial facility for off-grid projects in ISA member countries, combining the grant and debt finance.
The European Investment Bank (EIB) has extended a line of credit totaling €150 million, without insisting on a sovereign guarantee by the Government of India. Over one million Indian households are set to benefit.
The European Investment Bank (EIB) today said it will ink an agreement tomorrow, Saturday, March 10, to provide a loan for both small- and large-scale clean energy projects in India, which will form part of its €800 million (around US$984 million) investment in the country.
Both the European Investment Bank and India’s YES Bank will provide $200 million investment to co-finance a series of solar and wind power projects across India.
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