Lok Sabha Question No. 1863 (UNSTARRED), answered on 2017-07-27
Subject: World Bank Loan for Solar Projects
Ministry: NEW AND RENEWABLE ENERGY
Asked by: RAVINDRA KUMAR PANDEY, ANTO  ANTONY

## GOVERNMENT OF INDIA

## MINISTRY OF NEW AND RENEWABLE ENERGY

## LOK SABHA UNSTARRED QUESTION NO. 1863

TO BE ANSWERED ON 27.07.2017

## WORLD BANK LOAN FOR SOLAR PROJECTS

1863. SHRI RAVINDRA KUMAR PANDEY:

SHRI ANTO ANTONY:

Will the Minister of NEW AND RENEWABLE ENERGY be pleased to state:

- (a):  whether any loan has been offered by the World Bank for solar projects in the country;
- (b):  if so, the details thereof and the details of the pacts signed in this regard;
- (c):  the details of the projects selected for the assistance by the World Bank, State-wise;
- (d):  the extent to which the desired targets are likely to be achieved by the aforesaid loan;
- (e):  the objectives and salient features of the International Solar Alliance; and
- (f): whether  India has become a global leader of the 21 members of the U.N.O. draft convention on climate change in the implementation of the commitments made in the 21st conference in Paris and if so, the details thereof?

## ANSWER

THE MINISTER OF STATE FOR POWER, COAL, NEW & RENEWABLE ENERGY AND MINES (INDEPENDENT CHARGE) (SHRI PIYUSH GOYAL)

- (a) & (b): Yes,  Madam.  World  Bank  financing  of  USD  100  Million  for  development  of  internal infrastructure of solar parks has been planned by Indian Renewable Energy Development Agency Ltd. (IREDA) under the aegis of this Ministry. The World Bank loan is proposed to flow to the interested Solar Power Park Developers (SPPDs) through IREDA. In addition, the World Bank is providing low cost financing to roof-top solar developers under a $625 million Programme for Results (PforR) to be routed  through  the  State  Bank  of  India.  These  programmes  will  increase  the  availability  of  debt financing,  de-risk  commercial  financial  flows,  and  build  capacity  across  the  solar  PV  industry  to significantly  expand  the  programme  of  rooftop  solar  PV  across  India.  The  first  100  MW  of  solar rooftop financing under this loan has just been approved.
- (c): The Department of Economic Affairs has reported that the shared infrastructure financing for solar parks is available to any State Government that approaches the World Bank for this financing with a viable Solar Park proposal. Roof-top solar financing is available to developers across India.
- (d): It is expected that all targets of the above loans will be met.
- (e): The International Solar Alliance (ISA),  as an alliance of 121 solar resource rich countries lying  fully  or  partially  between  the  Tropic  of  Cancer  and  the  Tropic  of  Capricorn,  will  provide  a common  platform  for  increasing  utilization  of  solar  energy  for  meeting  energy  needs  of  the  ISA member countries through coordinated action for lowering the cost of finance; achieving speed, scale, and skill for deploying available technologies; facilitating strategic and collaborative solar research and development; and capacity building.
- (f): India is a signatory to the Paris Climate Agreement agreed in the 21st Conference of Parties to  the  United  Nations  Framework  Convention  on  Climate  Change  (UNFCCC)  held  in  Paris,  France during 30 November - 12 December 2015.  India's Nationally Determined Contributions (NDCs), as submitted to the UNFCCC under Paris Climate Agreement, inter-alia, include goals to:
- a)      reduce the emissions intensity of its Gross Domestic Product (GDP) by 33 to 35 percent by 2030 from 2005 level; and
- b)            achieve  about  40  percent cumulative electric power installed capacity from non-fossil fuel based  energy  resources  by  2030  with  the  help  of  transfer  of  technology  and  low  cost  international finance including from Green Climate Fund (GCF).

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