Germany will extend loans worth 125 million euro (around Rs 915 crore) to fund green energy projects in Himachal Pradesh and Andhra Pradesh.
“The Government of India and KFW (Federal Republic of Germany) on 5 October signed two loan pacts worth 125 million euro to finance two projects under the Green Energy Projects programme,” said a finance ministry statement.
Of the total, 57 million euro loan would be extended to Himachal Pradesh and 68 million euro to Andhra Pradesh alone.
The loan agreements were signed by S Selvakumar, joint secretary, ministry of finance and Roland Sillar, member, KFW Board Management.
Renewable Energy is one of the key areas of Indo-German ties for funding transmission infrastructure of renewable energy projects and strengthening the central and state grids to for more green energy, it said.
“With the Green Energy Corridors, the intra-state network will feed renewable energy to respective state grids and high capacity transmission corridors and also link major renewable energy pockets with the national grid,” added the statement.