MOU
SBI World Bank sign USD 625 mn deal for solar programme
New Delhi. The SBI and the World Bank have signed an agreement worth USD 625 million (around Rs. 4,200 crore) to support India in order to meet the mammoth power requirement while protecting the environment.
The World Bank will help the SBI in financing Grid Connected Rooftop Solar Photovoltaic (GRPV) projects at competitive rates.
"This in turn will catalyse the market and support the government to faster achieve its target to generate 40 GW of electricity from widespread installation of rooftop solar photo-voltaic panels," reported the largest lender.
The agreement also aims at improving the investment climate for solar PV market and increase the 'ease of doing rooftop business' through technical assistance to strengthen the capacity of key institutions and support the development of overall solar rooftop PV market, the statement said.New kerala.com
The agreements were signed by Karnam Sekar, Deputy Managing Director, SBI, and Onno Ruhl, Country Director, World Bank India, in the presence of Finance Minister Arun Jaitley, Union Power Minister Piyush Goyal, World Bank President Jim Yong Kim and Economic Affairs Secretary Shaktikanta Das.
News Must Read
- Shri. Bikram Ghosh takes charge as Director (Finance) in WCL
- SBI to change debit cards maintenance normal from 1 April, 2024
- NMDC excels at Governance Now 10th PSU Awards
- NTPC Group ties up JPY 30 billion funding from JBIC
- Jabalpur Airport connects Madhya Pradesh to other cities
- Best Organisations for Women title to PowerGrid
- Air India Faces Heavy Fine from DGCA of Rs 80 Lakh
- NCL's mega achievement; surpasses 500 Million Cubic Meters of Overburden
- RailTel bags major order from CDAC worth Rs 36 crore
- ICRA withdraws long term rating of NCDs of ONGC