State Bank of India has signed agreements with the World Bank for $625 million to support grid connected rooftop solar programme in the Country
SBI Capital Markets was keen advisor for structuring and setting up the facility
Signed by:
- Karnam Sekar, Deputy Managing Director, SBI
- Onno Ruhl, Country Director, World Bank India
Delegates:
- Finance Minister Arun Jaitley
- Union Power Minister Piyush Goyal
- World Bank President Jim Yong Kim
- Economic Affairs Secretary Shaktikanta Das
Focuses:
- Enhancing the investment for Solar Photo Voltaic Projects
- Increase the ease of doing rooftop business through technical assistance
- To strengthen the capacity of key organizations
- Support development of the overall solar rooftop Photovoltaic Markets
Benefits of the programme:
- Help SBI in financing grid connected rooftop solar photovoltaic projects at affordable rates
- Will mobilize the market and support the government to faster achieve its target to achive 40 GW of electricity from installation of rooftop solar Photo Voltaic Panels
Key Aspects:
- The Commercial, Industrial and Institutional rooftops will be used to set up solar Photo voltaic projects
- The beneficiaries under the facility would be developers, aggregators and end users
- Initial target: 400 Mega watt
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