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OeEB credit line improves energy supply in India

Sector: Government • Location: India

Source: Die Oesterreichische Entwicklungsbank AG (OeEB)

Project
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In November 2015, OeEB signed a long-term credit line of USD 20 million to PTC India Financial Services Limited for renewable energy and energy efficiency projects in India. More than 300 million people in India do not have access to electricity. In order to improve the energy supply and to reduce greenhouse gas emissions, the Indian government focuses on increasing the use of renewable energy. PT

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The project “OeEB credit line improves energy supply in India” is an infrastructure initiative in the Government sector, located in India. Taiyo aggregates data on it from Die Oesterreichische Entwicklungsbank AG (OeEB).

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Description

Description

In November 2015, OeEB signed a long-term credit line of USD 20 million to PTC India Financial Services Limited for renewable energy and energy efficiency projects in India. More than 300 million people in India do not have access to electricity. In order to improve the energy supply and to reduce greenhouse gas emissions, the Indian government focuses on increasing the use of renewable energy. PTC India Financial Services Limited (PFS) specializes in financing projects in the energy sector, with a focus on wind and solar power projects. OeEB's funds enable PFS to extend its lending activities in the field of renewable energy and energy efficiency and contribute to improving India's energy supply. OeEB also provides Technical Assistance funds for revising and expanding PTC’s existing Environmental and Social Management System (ESMS) to cover all projects financed by PTC and improve staff’s skills and knowledge regarding ESMS through trainings.

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