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EIB mulls EUR 76m of loans for Indian wind projects

Wind farm in India. Author: Yahoo. License: Creative Commons, Attribution 2.0 Generic

September 21 (SeeNews) - Loans of EUR 76 million (USD 84.9m) are under appraisal by the European Investment Bank (EIB) for several wind farms in India, according to information on the bank's website on Tuesday.

Located in the states of Andhra Pradesh and Madhya Pradesh, the projects have capacities of between 90 MW and 100 MW each.

Of the amounts under consideration, EUR 49 million would come under the IIFCL Energy Sustainability and Climate Action framework loan. In 2014, the EIB granted a long-term loan of EUR 200 million to India Infrastructure Finance Company Ltd (IIFCL) for climate change mitigation projects in India.

The other EUR 27 million would be given under the EUR-200-million IREDA-Renewable Energy and Energy Efficiency framework loan. This loan was provided in 2014 to the Indian Renewable Energy Development Agency (IREDA) to help finance projects in India's renewable energy and energy efficiency sector.

(EUR 1.0 = USD 1.116)

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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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