30 Mar '15, 12pm

Indian government seeking US$3 billion to fund solar ambitions - report

Prime minister Modi. India is seeking financial support to fund its solar ambitions. Image: Narendra Modi official website. The Indian government is reportedly in discussions with international funding and lending agencies to secure at least US$3 billion to finance plans to build multiple gigawatts of new solar capacity. Indian business news site LiveMint reports that discussions are underway between government officials and the Asian Development Bank, World Bank, Germany’s KfW bank, the Japan International Cooperation Agency (JICA) and the Japan Bank for International Cooperation (JBIC). Since taking power last year, the government of prime minster Narendra Modi has made solar power a priority and set an ambitious target of 100GW of new PV capacity by 2022. Investors have begun queuing up for a slice the action, with a frenzy of activity at the end of 2014 and in early 20...

Full article: http://www.pv-tech.org/news/indian_government_seeking_us3...

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