|
|
Indian Renewable Energy Development Agency Ltd has joined hands with a German development bank, KfW, so that the generation of power from biomass can be promoted.
The agreement will enable IREDA to receive 19.971 million euros from KfW as financial assistance for the same.
"The loan aims to accelerate the adoption of environmentally sustainable biomass power and co-generation technologies in India," it said.
The innovative biomass projects of combustion, gasification, methanation, and co-generation technologies for electricity generation will be promoted by IREDA.
"Under the loan, up to seven model implementation biomass projects are to be financed."
The concessional loan has a fixed interest rate with a 40-year repayment period.
This is the third of the credit lines which is obtained by IREDA for enhancing the use of renewable energy sources for generating power in the country.
The first two credits together amounted to 111 million euros (Rs.780 crore).
