Germany commits financial, technical assistance to India's green energy corridor

MUMBAI: Germany has committed financial and technical assistance to India for the green energy corridors, which includes financial assistance of euro 250 million as reduced interest loan.

According to a statement by the ministry of power, technical assistance would include euro 2 million for an Indo-German energy programme and an additional euro 2 million for integration of renewable energies into the Indian electricity system.

The statement said Germany has also expressed its willingness regarding concessional loans from KFW of up to one billion euro for financing the green energy corridors project under the Indo-German bilateral development cooperation programme over the next six years.

The green energy corridors project is expected to help in integrating renewable energy into the national grid. It comprises of both inter-state and intra-state schemes for evacuation of power from wind and solar projects.