India’s renewable energy sector got a boost, with Germany announcing 250 million euros in the form of technical and financial assistance to integrate renewable energy into the Indian electricity system.
Germany has decided to give India financial and technical assistance of about 250 million euros for its Green Energy Corridors.
The India Government announced its partnership with Germany for a new energy programme. The Ministry of Power said, “Germany’s assistance to India for the Green Energy Corridors will include financial aid of 250 million euros as a reduced interest loan.”
Listing some details, the Ministry said that out of the total amount, two million euros will be for the Indo-German Energy Programme, to which the new component on Green Energy Corridors has been added and another two million will be used for integration of renewable energy into the Indian electricity system.
The Green Energy Corridors project will help in integrating renewable energy into the national grid, the ministry said in its statement. It also added, that the programme will comprise of both inter-state and intra-state schemes for evacuation of power from wind and solar projects.