India’s Rural Electrification gets €200 million loan agreement via KfW

By Susanna Moon

Chicago, Aug. 16 – Rural Electrification Corp. Ltd. has signed a €200 million loan agreement with KfW, with the funds to be passed onto investors in the form of low-interest loans that may be invested in energy production based on renewables such as solar and wind power.

The loans will be supplemented by counterpart contributions of up to 30% from the borrowers as well as contributions from other banks under syndicate financing packages, according to the announcement by KfW.

The overall investment is expected to be about €285 million and will also be part of the German-Indian solar partnership, the release noted.

The company is also receiving a financial grant of €1 million “for implementing an environmental and social management solution, which will significantly improve standards in the Indian energy sector,” the release added.

Based in New Delhi, Rural Electrification promotes and finances rural power projects.

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