IREDA signs loan agreement with KFW to finance ‘Access to Clean Energy Projects’ meant for decentralized solar applications

Indian Renewable Energy Development Agency Limited (IREDA) has signed a loan agreement with KFW namely, KFW VI line of credit for financing ‘Access to Clean Energy Projects’ meant for decentralized solar applications. The total sanctioned amount of the agreement is EUR 20 million. The entire amount has been utilized as of 30th March, 2022.

Energy Efficiency Services Limited (EESL) has signed loan agreements from multilateral agency – ADB and bilateral agency – KfW, for Decentralized Solar and Electric Mobility. The total sanctioned amount of ADB’s loan for ‘Decentralized Solar, Electric Mobility and Smart Meters’ is USD 296 million. As of 30th November, 2022, USD 73 million has been utilized for the programme. The total sanctioned amount for KfW’s loan of ‘Decentralized Solar and lighting’ is Euro 200 million. As of 30th November, 2022, Euro 9 million has been utilized for the programme.

This information was given by Shri R.K Singh, Union Minister for Power and New and Renewable Energy in a written reply in Lok Sabha today.

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