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Germany grants 68 million euro loan to AP for green energy
Government of India and KFW (Federal Republic of Germany) signed loan agreements worth 125 million euro for KFW assisted Himachal and Andhra Pradesh Green Energy Corridors Projects here on Monday. While Himachal Pradesh gets 57 million euro, Andhra Pradesh will be getting a loan of 68 million euro.
New Delhi: Government of India and KFW (Federal Republic of Germany) signed loan agreements worth 125 million euro for KFW assisted Himachal and Andhra Pradesh Green Energy Corridors Projects here on Monday. While Himachal Pradesh gets 57 million euro, Andhra Pradesh will be getting a loan of 68 million euro.
Loan agreements were signed by S Selvakumar, Joint Secretary (Bilateral Cooperation), Department of Economic Affairs, Ministry of Finance on behalf of the Government of India and Roland Sillar, Member, KFW Board Management, from German side.
Project agreements were also signed by S L Sharma, MD, HPPTCL and P Satyamoorty, Director (Finance), Andhra Pradesh TRANSCO relating to their respective states.
With the Green Energy Corridors, the intra-State network would feed the renewable energy to the respective state grids and the high capacity transmission corridors and inter-State network would connect major renewable energy pockets with the national grid, a statement of the government said.
Renewable energy is one of the key areas of Indo-German partnership mentioned in the joint statement at Hannover in April 2015 and with financing of the transmission infrastructure of renewable energy projects, the Central and State grids world be strengthened to generate more green energy.
