World Bank loan for Rewa solar project
The World Bank has agreed to provide loan to develop internal transmission arrangements for the upcoming Rewa Ultra Mega Solar project in Madhya Pradesh, a state government official said on Tuesday.
“The World Bank has agreed to provide loan to develop internal transmission arrangements of the Rewa project. It will provide 25% of the loan amount under its Clean Technology Fund (CTF), where the money will be provided at an interest rate of only 0.25%,” a public relations department official said.
This would be the first solar power project in the country to receive a loan under CTF. “The solar project would save Rs 14,000 crore for the state. Besides, it would also provide power to the Delhi Metro Rail Corporation,” he said. Agencies