Funding program for decentralized renewable energies parallel financing

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The FC measure includes the provision of a credit line to the Indian Renewable Energy Development Agency (IREDA) to promote access to climate-friendly energy services. The aim of the FC measure is to provide and use climate-friendly and modern energy services, particularly in rural areas of India, through improved access to loans for private energy service providers. The FC measure thus contributes to the development cooperation program goal of contributing to a broad-based, technically and economically efficient as well as socially and ecologically sustainable energy supply. The target group of the FC measure includes the population and companies in India who have previously had little access to a modern energy supply. This pilot project is intended to promote investments with total costs of up to EUR 28 million. A low-interest loan of up to EUR 20 million is to be made available to finance the measures. In addition, an additional grant component of up to EUR 4 million is to partly cushion the credit risks and partly be provided as subsidies linked to milestones. An accompanying measure of EUR 1 million is planned.