NEW DELHI: The German bank has already offered $1.55bn loan, to help develop a ‘green corridor’ of power lines across nine states.
Indian Ministry of New and Renewable Energy secretary Upendra Tripathy was quoted by Reuters as saying: “The prime minister discussed this and KFW in principle agreed to examine our request.”
Last December, KfW said it would support the country’s power transmission project by extending a €1bn loan.
By 2022, India has set a target to increase its renewable power capabilities by five-fold to 175GW.
In line with this, the government had earlier requested the World Bank and the Asian Development Bank for $750m and $500m funding, respectively.
During the fiscal ended 31 March 2015, the country spent $4bn on green energy projects, compared to $3.4bn in the prior fiscal.
India expects its renewable energy industry to attract $160bn business opportunities by the end of the decade.
