The World Bank has agreed to provide loan to develop internal transmission arrangements of the upcoming Rewa Ultra Mega Solar (RUMS) project in Madhya Pradesh, a state government official said today.
“The World Bank has agreed to provide loan to develop internal transmission arrangements of the Rewa project. It will provide 25 per cent of the loan amount under its Clean Technology Fund (CTF), where the money will be provided at an interest rate of only 0.25 per cent,” a state Public Relations Department official said.
This would be the first solar power project of the country to receive a loan under CTF, claimed the official.”This decision was taken at a meeting held in New Delhi recently to discuss about loans to be granted from the World Bank to develop new solar parks in the country,” he said.”The installation of this solar power project would save Rs 14,000 crore for the state. Besides, the project would also provide power to Delhi Metro Rail Corporation,” he added.