ADB, World Bank to support offshore wind energy projects
The Asian Development Bank (ADB) and World Bank have offered line of credit for offshore wind energy projects and for repurposing of power plants among others, the Union Power Ministry said on Sunday.
Addressing the media on the sidelines of the G20’s Energy Transition Working Group meeting here, Power Ministry Secretary Alok Kumar said three agencies were in touch with the two banks to discuss low-cost financing for the renewable energy projects, one of the six priorities outlined by India.
Answering questions about the mobilisation of Rs 2.4 lakh crore for India’s plan to have 500 GW of solar energy (installed capacity), the secretary said “some support” has been proposed from the two banks.
