TN govt signs MoU with German bank to implement green power corridor

CHENNAI: Tamil Nadu Transmission Corporation has signed a memorandum of understanding for a loan with German bank KFW to implement phase two of Green Energy Corridor (GEC) in the state. The Centre has approved Rs 719.79 crore for the project in Tamil Nadu, including grant of 33% from the Ministry of New and Renewable Energy, while 47% cost of the project will be funded by the loan from KFW and the remaining 20% as equity from the Tamil Nadu Transmission Corporation Limited (Tantransco).