German bank to provide $1.2bn cash injection to Indian grid

KfW Group will spend 1 billion euros ($1.2bn) on modernising India’s electricity network.

The German state-owned bank aims to make the subcontinent’s network more adept at carrying greater volumes of renewable energy from sources such as solar and wind.
Power lines
One of the main reasons for the refurbishment is that about 90 per cent of India’s renewable energy sources are located in seven states, meaning most of the plants are far from where power is consumed.

KfW agreed to loan Power Grid Corp of India Ltd. 500 million euros to build new power lines and signed deals with India’s government for two loans totalling 125 million euros for grid projects in Rajasthan and Tamil Nadu, it said today in an e-mailed statement.

About as many people in India are without electricity as the population of the US and the number is growing every year.

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