ADB is helping India realize its solar dreams, to provide $500 mn loans for solar rooftops
Advertisement
Advertisement
The financing involves $330 million from ADB and $170 million from the multi-benefactor
"This funding should mean that 11 million fewer tonnes of greenhouse gases are emitted over the typical 25-year lifetime of solar rooftop systems," ADB said.
The financing will be channalised through state-possessed
"There is a huge potential for India to expand its use of solar rooftop technologies because of the sharp drop in the price of solar panels, meaning the cost of producing solar energy is at or close to that from fossil fuels," said Anqian Huang, finance specialist in ADB's
Advertisement
Consolidated with an extra $ 300 million in subproject value speculation and $ 200 million in advances from business banks and different agents, the whole cost of the
The Government aims to increase the amount of energy sourced from solar rooftop systems to 40 gigawatts by 2022.
India has focused to lower its carbon outflows by 33% from 2005 levels in order to substitute it by non-fossil fuel based power under the 2015 Paris climate agreement.
In addition, ADB has additionally dedicated to twofold its yearly financing for atmosphere relief and adaption to $ 6 billion by 2020 to bolster India's cause.
Advertisement
The solar rooftop business sector is still at an early phase of advancement in India and familiarity with the most recent advances and the money related advantages is low.Banks see lending to such projects as risky, partly because of limited past experiences.
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas