India will take $100 million from the world Bank on the development of solar energy

© RIA Novosti / Stringreplace in photosangelina power. Archival photoIndia will take $100 million from the world Bank on the development of solar energy© RIA Novosti / Stringreplace the image Bank

The government of India signed an agreement with the world Bank about the loan in the amount of $ 100 million for the construction of infrastructure for solar power plants in the country, said Monday the Ministry of Finance of India.

«India has signed a loan agreement with the world Bank in the amount of $ 100 million for the project combines infrastructure for solar power plants», — stated in the message.

The Finance Ministry said that the aim of the project is to increase generation of solar energy «through the creation of large-scale parks with solar power plants in the country.» «This project will contribute to the implementation of the government plan to develop 100 gigawatts of solar energy (out of 175 target) by 2022», — stated in the message.

According to the annual forecast from the International energy Agency (IEA) World Energy Outlook 2017, the largest contribution to demand growth for energy and electricity by 2040 will make India, increasing its share of consumption to 11%.

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