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Germany to finance India’s ‘Green Energy Corridors’

According to reports, Germany has committed financial and technical assistance to India for the ‘Green Energy Corridors’.

This includes financial assistance of euro 250 million as reduced interest loan.

The technical assistance includes:

(i) Euro 2 million for Indo-German energy programme – mew component on Green Energy Corridors; and

(ii) Euro 2 million for Integration of Renewable Energies into the Indian Electricity System (I-RE).

This was disclosed during the Indo-German Annual Negotiation meeting held in New Delhi in July, 2013.

Germany has also expressed its willingness regarding concessional loans from KFW of up to one billion euro for financing the Green Energy Corridors project under Indo-German Bilateral Development Cooperation Programme over the next six years. This was discussed during the Indo-German Government Consultations held in Berlin in April, 2013

The Green Energy Corridors project will help in integrating renewable energy into the National grid.

It comprises of both inter-state and intra-state schemes for evacuation of power from wind and solar projects.

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