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.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...