German-Indian Solar Partnership II

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As part of the Indo-German Solar Partnership initiated during the 2015 cabinet consultations, up to EUR 1 billion is to be made available over the next few years to expand the use of solar power in India. This involves, on the one hand, i) the financing of PV systems on rooftops, with the primary focus on self-consumption of the electricity produced, and, on the other hand, ii) the promotion and financing of solar parks, land-neutral PV systems and their infrastructure. The latter would then also be linked to the Indo-German partnership agreed for the so-called Green Energy Corridors, within the framework of which transmission lines for connecting and feeding renewable energies into India's high-voltage grids are financed. A third, complementary pillar could be iii) the financing of decentralized island grids to improve access to modern forms of energy. The aim of the FC measure is, among other things, to to support the restructuring of the energy supply in India towards a greater use of solar energy through increased promotion of photovoltaics (FC module objective). The project thus contributes to a broad-based, technically and economically efficient as well as socially and ecologically sustainable energy supply (EZ program objective). In addition to investors in solar energy, the project's target group also includes private and commercial electricity consumers who benefit from secure, climate- and environmentally-friendly electricity generation. The borrowers and project sponsors of Solar Partnership II are the Bank of Baroda (component 1; EUR 100 million) and REC Ltd. (component 2; EUR 150 million, under review).