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HomeMarketStocksSBI gets Rs 1,240 crore from German KfW for solar projects

SBI gets Rs 1,240 crore from German KfW for solar projects


has signed a 150 million euro (Rs 1,240 crore) mortgage settlement with the German growth financial institution KfW for funding photo voltaic tasks. The long-term mortgage, beneath the Indo-German photo voltaic partnership, will facilitate new and upcoming capacities within the photo voltaic sector and additional contribute to the nation’s objectives introduced throughout the COP26, the financial institution mentioned in a press release on Wednesday.

The profitable closure of the phase-1 beneath the photo voltaic partnership- promotion of photo voltaic/PV between

and KfW, paves the best way for the present phase-2 in our partnership with this German lender, Ashwini Tewari, a managing director at SBI mentioned. With this facility, he added, the financial institution has taken one other step in direction of sustainable financing preparations for assembly the nation’s renewable capability objectives and upholding environmental and social requirements.
In 2015, New Delhi and Berlin had signed a memorandum of understanding to foster photo voltaic power by way of technical in addition to monetary cooperation. By means of this settlement, Germany had expressed its willingness to offer the concessional loans to India within the vary of 1 billion euros by way of KfW.



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