The Union Cabinet led by the Prime Minister Shri Narendra Modi ratified a Memorandum of Understanding (MoU) between India and Germany to magnify bilateral cooperation in the field of Solar Energy by expandinguse of solar energy in India through technical as well as financial cooperation.
Agreement:Germany would provide concessional loans in the range of one billion Euros over the next five years through Kreditanstalt fur Wiederaufbau(KfW). It will be used for providing soft loans to the end-users through partner banks.
*Key points:
- Cooperation in the field of solar roof tops
- Development of solar parks or solar zones
- Solar off-grid applications to improve the access to clean and sustainable energy.
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