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Home » CleanTech/ Renewable Energy » IREDA signs international credit agreement with KfW- Germany and JICA- Japan for promoting renewable energy development in India

IREDA signs international credit agreement with KfW- Germany and JICA- Japan for promoting renewable energy development in India

The Indian Renewable Energy Development Agency (IREDA) had entered into agreements with Kreditanstalt für Wiederaufbau (KfW), Germany and Japan International Cooperation Agency (JICA) for availing lines of credit of €219.97 million from KfW and JPY 30,000 million from JICA for promoting development of renewable energy in the country during the last three years.

The Government is giving various fiscal and financial incentives, such as capital/interest subsidy, accelerated depreciation, concessional excise and customs duties to promote renewable energy sources. Among the other steps include preferential tariff for purchase of power generated from renewable sources, introduction of Renewable Energy Certificates and Renewable Purchase Obligation. IREDA is also providing soft term loan for promotion of renewable energy projects.

One comment

  1. Is there a check or monitor on how the Capital Subsidy is used and really did it benefit the purpose esp for Wind mill and Biomass projects and more vigilance is needed on Roof top PV and Off grid applications as there are lot of complaints of non functioning and poor quality products…

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