Japan’s foreign aid arm plans to finance India solar power parks

New Delhi: Japan’s foreign aid arm Japan International Cooperation Agency (Jica) plans to fund solar power parks in the country, giving a fillip to India’s green energy plan.
To start with, Jica is ready to invest $500 million in the proposed solar parks. Other institutions such as Germany-based KfW Bankengruppe and World Bank also want to invest in solar parks.
Of the total 100,000 megawatts (MW) of solar power capacity planned by 2022, 20,000MW will come from solar parks and 40,000MW each from roof-top and distributed generation projects.
The government plans to set up 25 solar power parks.
“Apart from providing funds to our solar programmes such as roof-top projects, multilateral financial institutions such as KfW, World Bank and Jica are very keen on funding solar parks. We will be raising $500 million from Jica for the same,” said a senior Indian government official requesting anonymity.
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