Wednesday, September 18, 2013

Germany Extended Financial and Technical Assistance for India’s Green Energy Corridors

Germany, in the month of September 2013 extended financial and technical assistance to India for the Green Energy Corridors. This assistance includes Financial Assistance of Euro 250 Million as Reduced Interest Loan.
Technical Assistance
The technical assistance extended by Germany includes:
• Euro 2 million for Indo-German Energy Programme – New component on Green Energy Corridors
• Euro 2 million for Integration of Renewable Energies into the Indian Electricity System (I-RE)
The information about financial and technical assistance was disclosed during the Indo-German Annual Negotiation meeting held in New Delhi in July 2013.
Germany, in the meanwhile, also indicated towards concessional loans from KFW of up to one billion euro for financing the Green Energy Corridors project under Indo-German Bilateral Development Cooperation Programme over the next six years.
The Green Energy Corridors project will help in integrating renewable energy into the National grid. It comprises of both inter-state and intra-state schemes for evacuation of power from wind and solar projects.