EIB to provide Euro 800 million for renewable energy investments across India

The European Investment Bank (EIB) will provide Euro 800 million or nearly Rs 61.3 billion worth of funds for renewable energy investments across India. This includes renewable energy financing in partnership with the Indian Renewable Development Agency (IREDA) and the India Infrastructure Finance Company, which was approved earlier this year. EIB committed to provide funds after collaborating with the International Solar Alliance, with the aim to mobilise finance for affordable solar energy in solar-rich countries. In addition, EIB is about to finalise a Euro 200 million credit line for renewable energy projects in association with Yes Bank.