MoU between India and Germany for Solar Energy

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved a Memorandum of Understanding (MoU), which has been signed in October, 2015, between Indian and Germany, to expand bilateral development cooperation in the field of Solar Energy by increasing use of solar energy in India through technical as well as financial cooperation.

The MoU will help in strengthening bilateral cooperation between the two countries.

Under the agreement, Germany would provide concessional loans in the range of one billion Euros over the next five years through Kreditanstalt fur Wiederaufbau (KfW). The funds of KfW will also be utilized for providing soft loans to the end-users through partner banks.

The MoU would lead to –

i. Cooperation in the field of solar rooftops;

ii. The development of solar parks or solar zones (if possible in close proximity to the Green Energy Corridors financed by KfW under Indo-German Financial Cooperation) and

iii. Solar off-grid applications to improve the access to clean and sustainable energy.

 

Source : PIB

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Amit Antil

After doing Power Management (MBA) from National Power Training Institute (NPTI), Amit Antil is now presently working with Today Green Energy Pvt. Ltd. and looking after business development activities for Solar. Earlier he was associated with leading power trading company Global Energy for 3 years. He has a sound knowledge about bidding, power trading, open access, REC trading, Govt. Liaisoning, Contract Negotiation, Power Purchase Agreement.

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