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Germany gives EUR 200 mn loan to India’s energy efficiency program

Germany gives EUR 200 mn loan to India’s energy efficiency program

By BizLED Bureau

Mar 13, 2017: On behalf of the Federal Ministry for Economic Cooperation and Development (BMZ), the German Development Bank signed a loan agreement of over EUR 200 million (Rs 14,000 million) with India’s Energy Efficiency Services Limited (EESL). With this, the total German commitment for energy efficiency in India stands at EUR 600 million (Rs 42,000 million).

With this, the Indo-German development cooperation addresses mutual interests of mitigating and bringing together the expertise of highly committed institutions on both sides.

Another financing agreement of EUR 500,000 (Rs 350 million) was signed with Indian Renewable Energy Development Agency (IREDA). IREDA will use these funds to for solar PV projects and to mitigate the challenges faced in solar rooftop PV projects by establishing an implementation structure.

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