German KfW lends EUR 250m for 125 MW solar plant in India
Aug 11, 2011 - German state development bank Kreditanstalt fuer Wiederaufbau (KfW) said on Wednesday it has extended a EUR 250 million (USD 355.98m) loan to India for the construction of a solar power plant with a capacity of 125 MW.
The capacity of the Shivajinagar Sakri solar power plant can be expanded to 150 MW, KfW added. The facility will be able to provide clean energy for 400,000 inhabitants of the Dhule district in the eastern Maharashtra state.
The total cost of the power plant, including the expansion option, stands at around EUR 370 million. KfW will provide a reduced-interest loan of EUR 250 million, while Indian project executing agency Mahagenco will cover the remaining EUR 120 million.
KfW's activities in the field of renewable energies and energy efficiency currently amount to around EUR 1.1 billion.