The World Bank Group has signed an agreement with International Solar Alliance (ISA) to finance more than $1bn in support expansions of solar generation capacity.

The projects supported by World Bank include infrastructure for solar parks, rooftop technology, marketing of the latest hybrid technologies, and deploying transmission lines for solar-rich states.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

In keeping with its commitment, the World Bank signed an agreement with the Indian Government for the $625m Grid Connected Rooftop Solar Programme.

Under the terms of the deal, the World Bank will finance the deployment of at least 400MW of solar Photovoltaic (PV) installations, which would supply clean and renewable energy and reduce greenhouse gas emissions by replacing thermal power generation.

"Projects supported by World Bank include infrastructure for solar parks, rooftop technology, and marketing of the latest hybrid technologies."

The building of a $200m shared infrastructure for Solar Parks Project under a public-private partnership model is also under preparation.

World Bank’s president Jim Yong Kim said: "India’s plans to virtually triple the share of renewable energy by 2030 will both transform the country’s energy supply and have far-reaching global implications in the fight against climate change.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"Prime Minister Modi’s personal commitment toward renewable energy is the driving force behind these investments. The World Bank Group will do all it can to help India meet its ambitious targets, especially around scaling up solar energy."

As part of the deal, the bank will develop a roadmap to mobilise financing for the construction and installation of affordable solar energy.

A combination of investments to be made on such projects in India would be World Bank’s largest financing on solar power for any country in the world to date.