Germany to give 1 bn euro loan to India for strengthening power sector

Minister of State (Independent Charge) for Coal, Power and Renewable Energy Piyush Goyal has said that a development bank owned by the German government, the Kreditanstalt fur Wiederaufbau (KfW), has agreed to provide a concessional loan of a billion euros over the next six years to augment and strengthen the nation's renewable power transmission infrastructure.

Germany has also agreed to provide technical assistance of two million euros for forecasting, balancing, market design and network management in connection with grid integration of renewable power.

Goyal said the synchronisation of power from renewable sources under the Green Energy Corridor project, with soft loan assistance from KfW have not begun yet because it is at different stages of implementation in different states.

The minister further said that the Green Energy Corridor project will be helpful in grid stability, as it will evacuate renewable power from the generation points to load centres with creation of additional and adequate transmission capacity.