KfW Grants EUR 250 Million Loan for Largest Solar Power Plant in India

To exploit of the favourable climate conditions and meet the challenge of power deficits and rising carbon emissions in India, Germany’s the state-owned KfW Development Bank (KfW) signed a loan agreement worth EUR 250 million for the construction of the world’s largest solar power plant in the Indian state of Maharashtra on Wednesday.

The loan will finance a 125 MW solar PV power plant with the option for further expansion by 25 MW. Total costs of the project including the expansion amount to EUR 370 million, EUR 120 of which will come from the project developer Maharashtra State Power Generation Co. Ltd. (Mahagenco).

Since 1958 KfW promotes projects in the energy and environment sector as well as projects aimed at a sustainable economic development. Currently, KfW supports projects with roughly EUR 2.5 billion, with renewable energy and energy efficiency projects receiving EUR 1.1 billion.

Source: KfW

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