The State Bank of India (SBI) has been granted an additional €150 million low-interest loan from Germany’s KfW Development Bank to fund solar projects in India.
The loan agreement was signed by the two banks as part of the Indo-German solar energy partnership. Over 600,000 MWh of solar electricity will be generated annually by the projects funded by this loan. Furthermore, the measures will result in an annual reduction of 500,000 tonnes of carbon dioxide emissions.