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

July 17, 2025
Indian solar manufacturers are among the targets of a new petition filed by US producers alleging illegal trade practices by overseas firms.
Premium
July 17, 2025
Implementing greater policy clarity pertaining to the EPBD will be essential if Europe is to realise its distributed rooftop solar targets.
July 16, 2025
Planning uncertainty and policy instability regarding renewables in Queensland have seen it slip in investment attractiveness, with New South Wales now leading Australia.
July 15, 2025
Indian renewable energy company SAEL Industries is developing a 5GW solar cell and 5GW module manufacturing facility in Greater Noida, Uttar Pradesh.
July 11, 2025
Indian independent power producer (IPP) Juniper Green Energy has commissioned an additional 71MWp at Chapalgaon Solar Project in Solapur, Maharashtra.
July 9, 2025
Indian solar water pump and motor manufacturer Shakti Pumps has successfully raised INR2.9 billion (US$34.1 million) to build a solar cell and module manufacturing plant.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK