France lends €100m for India’s renewable energy projects

France is supporting the green energy sector in India by providing a loan worth €100 million (£81m). The Indian Renewable Energy Development Agency (IREDA) will use the cash for both […]

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By Priyanka Shrestha

France is supporting the green energy sector in India by providing a loan worth €100 million (£81m).

The Indian Renewable Energy Development Agency (IREDA) will use the cash for both renewable energy and energy efficiency projects in the country.

IREDA and the French Development Agency (AFD) signed a Memorandum of Understanding (MoU) this week to seal the deal.

The Indian Ministry of New and Renewable Energy said: “Developing renewable energy sources helps address environmental concerns and also improves energy security and spurs regional economic development.

“The agreement will help in supporting the Government of India’s focus on a low carbon growth strategy for power generation in India.”