World Bank to partner India in solar mission

The World Bank on Wednesday said it was trying to partner with Indian government’s ambitious national solar mission that proposes to add 20,000 mw solar power capacity by 2022.

The bank was holding deliberations with the new and renewable energy ministry to lend financial and technical support, World Bank sector manager (energy department, south Asia region) Salman Zaheer told reporters here.

“We are discussing sort of three pitches. One is knowledge platform that is ensuring critical mass of people including academicians and policy makers,” he said. The bank also seeks to offer expertise in price discovery for solar energy. As per the plan, the World Bank proposes to auction sites with solar potential for a better price discovery.

Zaheer said the bank would prepare feasibility reports or projects depending on sites that could be tendered. Rajasthan, Gujarat, Karnataka and Tamil Nadu were the states with major solar potential.

Thirdly, the bank was willing to extend financial support to developers.

At present, solar energy generation in the world is just about 450 mw, Zaheer said.

India’s national solar mission is part of the eight such missions drafted under the prime minister’s action plan on climate change. The government has sanctioned Rs 4,337 crore for initial activities in this regard.

The World Bank proposes to engage in policy and institutional reforms, cross-border energy trade, investment in hydropower and renewable energy sources. The bank is in the process of lending financial support to $4 billion worth projects. Funds to $1,5 billion projects including 444 mw Vishnugad - Pipalkoti hydroelectric project, and 700-mw Luhri hydroelectric project have been mooted.

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