World Bank loan for Rewa solar project

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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

 

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