News
POWER UTILITY | Staff Reporter, India
view(s)

Azure Power gets $10.5m loan from World Bank

The loan is for 15 years with 8.35% yearly interest rate.

Independent solar power producer Azure Power has been granted INR 678.3 (US$ ~10.5) million of low-cost debt financing through the SBI-World Bank: Grid Connected Rooftop Solar PV Program. 

The loan is for 15 years with an interest rate of 8.35% per annum, one of the lowest interest rates availed by a solar power developer in the Indian solar sector to date. The loan will be utilized to scale Azure Roof Power, Azure Power’s solar rooftop platform.

Under the SBI-World Bank: Grid Connected Rooftop Solar PV Program, the World Bank and the International Bank for Reconstruction and Development (IBRD) approved a line of credit of $625 million to support the Government of India’s goal to expand rooftop solar to 40,000 MWs.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.