Rs.1 Billion Boost for India's Solar Sun

22 Dec 2023 CW Team

The loan agreement, signed on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), comprises two parts:

?70 million loan to the State Bank of India (SBI): This will be used to refinance loans to investors for solar farms with a total capacity of around 180 MW.

?130 million loan to the Indian Ministry of Finance: This will support the development of ground-mounted solar systems in the state of Maharashtra, with a total capacity of 330 MW, along with connecting power lines to the nearest substation.

"KfW is helping India to expand its solar energy infrastructure with the aim of meeting the country's rapidly-increasing demand through renewable energies as much as possible," stated Christiane Laibach, Member of the Executive Board of KfW Group. "We wish to support India in contributing to a broadly effective, technically and economically efficient, and socially and environmentally sustainable energy supply."

The environmental benefits of this partnership are significant. The projects financed by the two new loans are expected to reduce India's greenhouse gas emissions by an impressive 650,000 tons per year.

This isn't the first time KfW has extended a helping hand to India's solar ambitions. Under the "German-Indian Solar Partnership I," two loans of ?150 million each were previously granted to SBI. In total, ten contracts amounting to around ?1 billion have been concluded with various financial institutions and the Indian state.

The impact of KfW's involvement in India's solar journey is undeniable. A remarkable 4 GW of solar power output has been installed, providing electricity from renewable sources to 5 million people. This translates to a staggering 6 million tons of CO2 emissions saved annually across India.

Germany's unwavering support for India's solar energy expansion exemplifies a positive and impactful international collaboration in the fight against climate change. As India strives to meet its ambitious renewable energy targets, KfW's continued partnership promises to illuminate the path forward with a brighter, cleaner future.

Germany has further solidified its commitment to supporting India's transition to renewable energy with a fresh ?200 million loan package. This latest financial injection brings KfW, the German development bank, total support for the German-Indian solar partnership to a staggering ?1 billion since 2017. The loan agreement, signed on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), comprises two parts: ?70 million loan to the State Bank of India (SBI): This will be used to refinance loans to investors for solar farms with a total capacity of around 180 MW. ?130 million loan to the Indian Ministry of Finance: This will support the development of ground-mounted solar systems in the state of Maharashtra, with a total capacity of 330 MW, along with connecting power lines to the nearest substation. KfW is helping India to expand its solar energy infrastructure with the aim of meeting the country's rapidly-increasing demand through renewable energies as much as possible, stated Christiane Laibach, Member of the Executive Board of KfW Group. We wish to support India in contributing to a broadly effective, technically and economically efficient, and socially and environmentally sustainable energy supply. The environmental benefits of this partnership are significant. The projects financed by the two new loans are expected to reduce India's greenhouse gas emissions by an impressive 650,000 tons per year. This isn't the first time KfW has extended a helping hand to India's solar ambitions. Under the German-Indian Solar Partnership I, two loans of ?150 million each were previously granted to SBI. In total, ten contracts amounting to around ?1 billion have been concluded with various financial institutions and the Indian state. The impact of KfW's involvement in India's solar journey is undeniable. A remarkable 4 GW of solar power output has been installed, providing electricity from renewable sources to 5 million people. This translates to a staggering 6 million tons of CO2 emissions saved annually across India. Germany's unwavering support for India's solar energy expansion exemplifies a positive and impactful international collaboration in the fight against climate change. As India strives to meet its ambitious renewable energy targets, KfW's continued partnership promises to illuminate the path forward with a brighter, cleaner future.

Equipment

06 Aug 2026

BKT Unveils Immersive Tyre Installation at Mumbai Airport

Balkrishna Industries (BKT), a global off-highway tyre leader with a growing presence in India's on-highway tyre market, has unveiled a distinctive brand installation at Mumbai International Airport (MIAL)'s T2 elevated road underpass. The initiative, inspired by BKT Tyres' ‘Elevate Your Drive’ philosophy reflects the company's evolution into a broader mobility brand by highlighting its portfolio across agriculture, construction, mining, earthmoving, commercial vehicles, two-wheelers and passenger vehicles. The launch of the installation marks a significant moment as BKT expands its footpr..

Real Estate

06 Aug 2026

Grovy India raises Rs 150 million through preferential issue

BSE-listed Grovy India has raised Rs 150.1 million through a preferential issue of equity shares to support its expansion plans in the South Delhi real estate market.The company's board-approved preferential issue committee allotted 4.17 million equity shares of Rs 10 face value, raising Rs 150.1 million. Following the allotment, the company's paid-up equity share capital has increased to Rs 175.1 million, comprising 17.51 million equity shares.Grovy India said the participation of promoters and investors reflects confidence in its execution capabilities, growth strategy and position in South ..

Infrastructure Energy

06 Aug 2026

K2 Infragen secures BBB- rating for Rs 2 billion facilities

K2 Infragen has secured an ACUITE BBB- rating with a Stable outlook for its long-term bank facilities and an ACUITE A3 rating for its short-term facilities from Acuité Ratings & Research, covering total bank facilities of Rs 2 billion.The rating comprises Rs 1.27 billion of long-term borrowings and Rs 730 million of short-term working capital facilities.According to the rating agency, the investment-grade rating reflects K2 Infragen's business risk profile, revenue growth, execution capabilities and financial discipline. The assessment is also supported by the company's order book, which ..