Europe supports Indian solar
EIB loaning €200m to help develop up to 800MW of PV projects
The European Investment Bank has approved a €200m loan to support the development of utility-scale solar plants in India totalling approximately 800MW.
The money will go to corporate developers for projects of 50MW and above.
The bank said that environmental and social pre-screening of the projects will be required.
It will also appraise the experience, procedures and capacity of the borrower to check eligibility, perform due diligence and monitor projects in line with the EIB’s environmental and social policy and standards.
The EIB is also considering a €100m loan application from the Caribbean Development Bank for projects that tackle climate change in the Caribbean region.
Potential project sectors include energy, transport, water and sewerage, and industry.