World Bank Plans ‘Scaling Solar and Storage’ Program Updated On Sat, Jan 20th, 2018 by Saurenergy The new Scaling Solar and Storage (SSS) program, is expected to be rolled out in the coming years would work on utility-scale tenders that pair solar PV with battery storage technology. The World Bank is planning to make energy storage an integral part of its ‘Scaling Solar’ program, that until now has been focused purely […] Read more
Egypt’s Solar Power Gets $102M Support from World Bank Agency Updated On Thu, Jan 11th, 2018 by Saurenergy The Egyptian government is moving forward on a mega project that involves private sector companies building solar and wind plants under a FiT scheme. The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group has announced a guarantee of $102.6 million for the construction of six power plants in Egypt. The power […] Read more
India’s Ultra-Mega Solar Project To Be Discussed At France Summit: World Bank Chief Updated On Mon, Dec 11th, 2017 by Saurenergy The ultra-mega solar power projects are a series of solar power projects planned by India to enhance its capacity from 20,000 MW to 40,000 MW. India’s ultra-mega solar project will come up for discussion at the One Planet Summit in France this week, World Bank President Jim Yong Kim has said. The ultra-mega solar power […] Read more
World Bank’s IFC Funds CleanMax Solar with $15 Million Updated On Thu, Nov 30th, 2017 by Saurenergy IFC also invested $125 million in Hero Future Energies, Hero Group’s renewable arm against an undisclosed equity stake. A senior executive from rooftop solar company CleanMax Solar has announced that the firm which is currently backed by American private equity giant Warburg Pincus has recently secured $15 million of funding against equity capital from International […] Read more
India-World Bank Ink $100 Million Loan Agreement For Clean Energy Updated On Tue, Nov 21st, 2017 by Saurenergy The solar parks will be mostly under the Ministry of New and Renewable Energy’s (MNRE) Solar Park Scheme. In a significant development, India and the World Bank have signed a $100 million loan and a grant agreement to help the country increase power generation capacity through cleaner, renewable energy sources. In a statement the World […] Read more
World Bank Loan for Solar Projects Updated On Thu, Jul 27th, 2017 by Saurenergy World Bank financing of USD 100 Million for development of internal infrastructure of solar parks has been planned by Indian Renewable Energy Development Agency Ltd. (IREDA) under the aegis of Ministry of New & Renewable Energy. The World Bank loan is proposed to flow to the interested Solar Power Park Developers (SPPDs) through IREDA. This […] Read more
India Emerging as Front-Runner in Fight Against Climate Change: World Bank Updated On Sat, Jul 8th, 2017 by Saurenergy In India and beyond, solar power is starting to displace coal as an energy source. India is emerging as a front runner in the global fight against climate change, the World Bank has said, noting that the solar power is gradually displacing coal as an energy source in the Asian country. “With a sweeping commitment […] Read more
Azure Power Taps IBRD (World Bank) Loan to Scale its solar rooftop platform Updated On Fri, Jun 16th, 2017 by Saurenergy The loan is for 15 years with an interest rate of 8.35% per annum, one of the lowest interest rates availed by a solar power developer in the Indian solar sector to date. The loan will be utilized to scale Azure Roof Power, Azure Power’s solar rooftop platform. Azure Power, an independent solar power producer […] Read more
India shows path for cheaper solar energy: World Bank Updated On Fri, Apr 21st, 2017 by Saurenergy “The incentives are clear that moving towards solar energy is better than continuing with the building of coal plants. So we need to find ways of accelerating that process. We hope to come out of these spring meetings with a platform like that in place” It is better to move towards solar energy than to […] Read more
