World Bank’s India loans to support transmission network and wind storage hybrid innovation

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Credit: Intersolar

The World Bank's groundbreaking US$1 billion loan for Indian solar will partly focus on improving transmission for solar parks and innovation in wind and energy storage hybrids, according to a senior government official.

Tarun Kapoor, joint secretary of the Ministry for New and Renewable Energy (MNRE), told PV Tech: “The loans are already identified and are at various stages of approval.”

He said these include a US$625 million loan for solar rooftop and US$200 million for supporting internal infrastructure in solar parks.

Meanwhile, another US$200 million loan will be available for large-scale solar projects and innovation with wind and storage hybrids to be implemented by the Solar Energy Corporation of India (SECI).

Another loan will be for state-owned transmission and utilities firm Power Grid Corporation to help support transmission from solar parks. This is particularly pertinent given widepsread concerns over the ability of India's transmission network to handle the expected surge in intermittent solar power coming online over the next two years. 

Jasmeet Khurana, associate firector, consulting, Bridge to India, recently wrote that the government needs to prioritize investments into the transmission infrastructure to proactively assuage concerns of the sector.

Referring to the World Bank loan, Kapoor added: “We won't term it as an ultimate stamp of approval for India's solar sector, but in any case this is encouraging.”

In a guest blog on PV Tech today Tim Buckley, director of energy finance studies, Australasia, Institute of Energy Economics and Financial Analysis (IEEFA), explains how significant this loan is for India and what else will be driving the necessary US$100 billion solar investment by 2022.

Read Next

May 11, 2021
Spain’s Solarpack was affected by pandemic-related project delays in Chile during a first quarter, in which it saw its net profit shrink 95% year-on-year to €300,000.
May 5, 2021
SHV Energy, a Netherlands-based liquified petroleum gas (LPG) distributor, has acquired a majority stake in Indian solar developer SunSource Energy.
April 30, 2021
Solar manufacturers that plan on setting up integrated, higher capacity plants in India will be given preference in the country’s new production-linked incentive (PLI) programme.
April 16, 2021
The US Federal Energy Regulatory Commission (FERC) has announced a string of initiatives to help develop the country’s power grid, including tightening a transmission incentive policy for utilities and a workshop that will explore how companies can benefit from grid-enhancing technology.
April 12, 2021
British energy company ScottishPower is targeting up to 40MW of solar as part of its Green Hydrogen for Scotland project.
PV Tech Premium
April 8, 2021
After a challenging year, India’s solar sector stands primed for something of a rebound. But a host of familiar issues, from the perilous state of DISCOMs to regulatory uncertainty, run the risk of stymying future growth. Vinay Rustagi, managing director at consultancy Bridge to India, talks to PV Tech about the future prospects for Indian solar.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 11, 2021
Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021