The Asian Development Bank has signed an agreement to offer US$200 million to the Indian Renewable Energy Development Agency to provide access to financing for clean energy projects.
The amount is a first tranche of the US$500 million Clean Energy Finance Investment Program. The loan from ADB can finance up to 50% of the project cost thus enabling a total investment of US$400 million in the renewable energy projects with US$120 million equity financing and balance US$80 million by other sources of debt.
The loan agreement was signed by Shri K S Popli, Chairman & Managing Director of IREDA and Teresa Kho, Country Director of ADB.
