ADB approves $650 million loan to accelerate rooftop solar adoption in India
Multilateral development bank ADB has approved a USD 650 million (about Rs 5,780 crore) policy-based loan to help the Government of India accelerate rooftop solar adoption and expand access to clean, affordable energy for 10 million households by 2027.
The financing under Subprogram 1 of the Accelerating Affordable and Inclusive Rooftop Solar Systems Development Program will support the government’s flagship initiative – Pradhan Mantri Surya Ghar: Muft Bijli Yojana (PMSGMBY) – which aims to make rooftop solar systems widely accessible nationwide, ADB said in a statement on Tuesday.
