India & Germany to cooperate in the field of solar energy
Updated: Dec 03, 2015 12:07:10pm
New Delhi, Dec 3 (KNN) India and Germany have agreed to expand bilateral development cooperation in the field of solar energy by increasing use of solar energy in India through technical as well as financial cooperation.
A Memorandum of Understanding (MoU) to this effect was signed in October 2015. The Union Cabinet chaired by the Prime Minister Narendra Modi on Wednesday approved the move.
“The MoU will help in strengthening bilateral cooperation between the two countries,” an official release said on Wednesday
Under the agreement, Germany would provide concessional loans in the range of one billion Euros over the next five years through Kreditanstalt fur Wiederaufbau (KfW). The funds of KfW will also be utilized for providing soft loans to the end-users through partner banks.
The MoU would lead to cooperation in the field of solar rooftops; development of solar parks or solar zones (if possible in close proximity to the Green Energy Corridors financed by KfW under Indo-German Financial Cooperation) and solar off-grid applications to improve the access to clean and sustainable energy. (KNN Bureau)
A Memorandum of Understanding (MoU) to this effect was signed in October 2015. The Union Cabinet chaired by the Prime Minister Narendra Modi on Wednesday approved the move.
“The MoU will help in strengthening bilateral cooperation between the two countries,” an official release said on Wednesday
Under the agreement, Germany would provide concessional loans in the range of one billion Euros over the next five years through Kreditanstalt fur Wiederaufbau (KfW). The funds of KfW will also be utilized for providing soft loans to the end-users through partner banks.
The MoU would lead to cooperation in the field of solar rooftops; development of solar parks or solar zones (if possible in close proximity to the Green Energy Corridors financed by KfW under Indo-German Financial Cooperation) and solar off-grid applications to improve the access to clean and sustainable energy. (KNN Bureau)
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