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IFC eyes renewable energy sector in Jharkhand

According to reports, the International Finance Corporation (IFC), a financial advisory group related to the World Bank, has approached the Energy Department of Jharkhand for extending its advisory services for tapping solar energy in the State. The world famous group with impeccable consultancy services has shown particular interest in the roof top solar technology.

Confirming this, Vimal Kriti Singh, Principal Secretary of the Energy Department, told The Pioneer that a team of the global consultancy firm paid a visit to his office last week and made the proposal for tapping the energy source. “Yes, some representatives of the IFC called me up and apprised me about the services they can provide in the field of solar energy technology. They said that IFC had done a commendable job in roof top solar technology world over and also in India and that can be replicated here in Jharkhand as well,” said VK Singh.

The IFC proposal has been backed with its similar projects currently undergoing at Gandhi Nagar in Gujarat and few other States. The proposal can be seen as a boon for the State that is considered rich in the field of solar power potential with more than 200 days of clear sunshine in a year.

Responding about the take of the department, Singh said that he was impressed with the proposal that would pave the way for expanding the reach of electricity in far-flung areas of the State and that also through a clean mechanism. The proposal has come when the IFC had about five months ago agreed to invest about $20 million in Nereus India Alternative Energy Fund. The fund is of $250-million that would focus on renewable and clean energy companies in India. It is the country’s first fund dedicated to renewable energy.

The IFC has entered into a similar kind of agreement with the Health Department of Jharkhand last week itself to provide consultancy services for operating Government hospitals, primary health centers and diagnostic centers across the State.

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