European Investment Bank providing €200 million for Indian large-scale solar

Facebook
Twitter
LinkedIn
Reddit
Email
Indian finance minister Jaitley inaugurates the new EIB Regional Representation for South Asia in New Delhi. Credit: EIB

The European Investment Bank (EIB) is to supply State Bank of India with a €200 million (US$214 million) 20-year loan to support utility-scale solar PV projects in India.

The loan backs up a total €650 million of investments in five projects. At present four projects with a total 530MW(AC) capacity have been identified for what is EIB’s largest ever support for solar in Asia. The states of Telangana and Tamil Nadu were cited as likely locations for projects, although other states are being considered. The investments will be part of India's National Solar Mission (NSM), its flagship scheme aiming to deploy 100GW of solar by 2022.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

EIB has also opened its first permanent office in India in New Delhi.

B Sriram, managing director, State Bank of India, said: “The new cooperation between the State Bank of India and the European Investment Bank will scale up investment in large-scale solar power generation across India. Close cooperation between technical and financial teams from both institutions will ensure that world class projects are supported.”

An EIB delegation will also meet the managing directors of the India Renewable Energy Development Agency (IREDA) and India Infrastructure Finance Limited (IIFL) to discuss future support for renewable energy investment in India.

Last year EIB provided €19.6 billion for climate related investments globally.

Read Next

June 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 26, 2025
ACEN has partnered with UPC Renewables to build two renewable projects in Rajasthan and Karnataka, India. 
June 25, 2025
Emmvee has secured INR15 billion (US$174 million) order for TOPCon bifacial solar modules from KPI Green Energy. 
June 25, 2025
State-owned firm Solar Energy Corporation of India (SECI) has launched a solar-plus-storage tender seeking 1.2GW of solar PV.
June 24, 2025
Waaree Renewable Technologies has signed an MoU with Viet Khanh to establish a 100MWp solar project in the region. 
June 24, 2025
BluPine Energy has raised INR2,416 million (US$290 million) debt sanctions for its 150MW power project in Aland, Karnataka.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico