29 Dec '14, 8am

KW01 | World Bank approves USD 130 million financing for grid connected PV, energy efficiency...

The World Bank on December 22nd , 2014 approved a USD 130 million credit for the Nepal Grid Solar and Energy Efficiency Project to help address Nepal’s energy shortages that are a major constraint to economic growth and overcoming poverty. The project intends to increase electricity supply to the national grid through grid-connected solar photovoltaic (PV) farms and reduce distribution losses in selected distribution centers. The credit carries a 6 year grace period and a maturity of 38 years. “Reliable electricity is crucial for Nepal to achieve its full growth potential,” said Takuya Kamata, the World Bank’s Country Manager for Nepal. “This project will not only address short-term measures of introducing solar power generation into the system but will also contribute to reduction of distribution losses”, he added. PV farms totaling 25 MW to supply solar power directly to...

Full article: http://www.solarserver.com/solar-magazine/solar-news/curr...

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