Tip: Activate javascript to be able to use all functions of our website

KfW: Strong support for climate protection in India

Press Release from 2015-10-06 / Group, Sustainability, KfW Development Bank

  • Record volume of promotional funds for large-scale collaborative projects between Germany and India
  • German-Indian solar partnership launches with EUR 1 billion
  • “Green energy corridors” continuing to grow

The German Federal Ministry for Economic Cooperation and Development (BMZ) has announced new projects to promote renewable energies with financing from KfW. This includes the large-scale German-Indian solar partnership, for which KfW will issue low-interest loans with a total volume of around EUR 1 billion over the next five years. These will be used to fund roof-mounted solar panels, the construction of solar energy farms and self-contained solar power facilities not connected to the grid.

“This record volume of commitments is promoting the establishment of an ecologically sustainable electricity supply on the sub-continent, with an extraordinarily positive impact on the environment and climate. The measures will also reduce air pollution and therefore improve the health of India's population,” said Dr Norbert Kloppenburg, member of KfW Group's Executive Board.

One focus of the most recent round of talks between the German and Indian governments was also on the large-scale strategic project “green energy corridors”. Germany has promised its support for this successful project of the German-Indian energy partnership in the form of a low-interest loan of up to EUR 400 million to promote this project – as part of the total funding amount of EUR 1.15 billion. The new energy transmission lines made possible as a result will be used to feed electricity generated in India from renewable sources into the country's national power grid.

At the same time, KfW has signed two further loan agreements with a total volume of EUR 125 million for the establishment of “green corridors” in the Indian states of Andhra Pradesh and Himachal Pradesh. The money will be used to finance transmission lines as well as the corresponding infrastructure.

KfW Development Bank implements Financial Cooperation (FC) with developing countries on behalf of the German Federal Government. More than EUR 12 billion has been committed to India since 1958 for projects relating to the energy sector, the development of the financial system, health care and nature conservation.

Further information on KfW Development Bank is available at

www.kfw-entwicklungsbank.de

Contact

Portrait Dr. Charis Pöthig 2014

Dr Charis Pöthig

Phone

+49 69 74 31 46 83

Fax

+49 69 74 31 32 66

eMail

charis.poethig@kfw.de