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World Bank will provide 25% of the loan amount under its Clean Technology Fund to Rewa Solar Power Project at an interest rate of only 0.25%.
The World Bank has agreed to provide loan to develop internal transmission arrangements for the upcoming Rewa Ultra Mega Solar Power Project in Madhya Pradesh.
"The World Bank has agreed to provide loan to develop internal transmission arrangements of the Rewa Solar Power Project. It will provide 25% of the loan amount under its Clean Technology Fund (CTF), where the money will be provided at an interest rate of only 0.25%," a public relations department official said.
This would be the first solar power project in the country to receive a loan under CTF. The solar project would save Rs 14,000 crore for the state. Besides, it would also provide power to the Delhi Metro Rail Corporation.
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