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GERMANY,INDIA : KfW Entwicklungsbank signs deal for Maharashtra plant
Publish Date : 17-Aug-2011
German development fund KfW Entwicklungsbank has signed a reduced-interest loan of €25 million to help fund a 125MW solar plant in the state of Maharashtra in India.
The total cost of developing the plant is expected to be €370 million, which can be further upgraded by adding more 25MW in near future. The developer of the state-run project Mahagenco is expected to stump up the remaining finance. Mahagenco expects the system to be connected to the grid in March 2012.
‘India will have to play a key role in global climate protection because of its fast, energy-intensive growth. By financing this strategic investment in renewable energies KfW Entwicklungsbank is making a significant contribution to combating climate change and implementing the energy turnaround in India,’ said KfW executive board member Norbert Kloppenburg.
