European Investment Bank to sign loan for large and small clean energy projects in India
New Delhi, 9th March 2018: Werner Hoyer, the President of the European Investment Bank- that is the public Bank of the European Union -will be participating in the first summit of the International Solar Alliance (ISA) in Delhi on December 11.
In parallel on March 10, President Hoyer will be signing anew loanfor large and small clean energy projects all over India. This is partof a EUR 800m EIB investment in renewables in India – most of which will besolar - announced last year.
This is the initiative from PM Modi and President Macron tospread solar and provide affordable energy to the 121 countries in the ISA byimproving financing, sharing technology and crowding in the private sector.
The EIB is the world’s biggest financier of climate actionand clean energy projects – In 2017 the EIB financed EUR 19.6bn of climateaction projects .About 28% of its total financing.
Last year the EIB signed a partnership with theInternational Solar Alliance aimed at supporting the initiative with EIBfinancing and expertise – in particular the experience of crowding in theprivate sector. Werner Hoyer is in Delhi at the Summit on March 11 to lay outhow that support can work and pledge the EU Bank’s commitment.
In parallel on March 10, in the presence of President Hoyer,the EIB will be signing a new loanfor large and small clean energy projects allover India. This is part of a EUR 800m EIB investment in renewables in India –most of which will be solar - announced last year.
On March 9, an all women roundtable of Delhi-based gendercampaigners, environmentalists and finance experts will join the head of theEIB’s Global Partners Division – Maria Shaw Barragan for a Facebook Live debatein Delhi with a live audience to debate how to Make Climate Action Count – and askwho really benefits , and how to make sure projects take the concerns of womenon board . It's timed to coincide with International Women's Day as well as theISA. Do join us at https://www.facebook.com/EuropeanInvestmentBank and sendyour questions live!
Key statistics and more information
EU Bank support for solar energy:
• Around6.35 billion euros for solar projects around the world since 2002,
*In the last 7 years half of this has been countries outsidethe EU (in developing and emerging economies.)
• 640million euros of EIB investment in solar investment has been approved for in India,
*These solar projects will be providing nearly 4millionhouseholds with around 4000 gigawatt hours of clean and affordable energy,saving nearly 4 million tonnes of harmful CO2.
Last year 800 million euros was announced by EIB for signedand approved renewable energy projects in India - a record renewables loan forAsia.
Click here to see Video on EIB’s contribution to India’sSolar Power Sector and the International Solar Alliance :https://youtu.be/a4asmpug-mQ
Download video for broadcast here:http://www.eib.org/attachments/india.zip