, India

Indian RE projects receive EU loan

European Investment Bank investing US$53 million.

The EIB long-term loan deal will fund renewable energy projects in India and is the first installment of an US$107 million loan to India’s SREI Infrastructure Finance.

This firm will deploy the funds to various projects built by mostly by private sector companies. SREI will lend the funds to final beneficiaries and identify and select RE projects. The funded projects include wind, solar and hydropower and high-efficiency cogeneration.

The investments are designed to help wean India off coal-fired thermal power and onto environmentally sustainable resources.

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