The World Bank Group is providing $25 million (~Rs.1.65
billion) to develop transmission infrastructure at the Rewa Solar Park. The
loan is being provided at an interest rate of 0.25 percent for a period of 40
The World Bank Group has earmarked $100 million (~Rs.6.6
billion) for lending to the Rewa Solar Park out of which $75 million (~Rs.4.95
billion) will be provided as loan for a period of 19 years at interest rate
calculated at the time of signing of papers, stated an official at the World
Bank Group in India.
There is a 40-year time limit to repay the $25 million (~Rs.1.65
billion) that is being provided at 0.25 percent, added the World Bank Group
official. The official further stated that the money will be transferred to Indian Renewable Energy Development Agency
(IREDA) which will be the initial borrower. The IREDA will then lend the amount
further to the entities involved in developing the shared infrastructure
facilities like transmission in the Rewa Solar Park.
reported on World Bank providing loan to the Rewa Solar Park, which was one
of the reasons behind record low tariffs.