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KFW offers Rs 600cr loan to Bengal for solar park project

KFW offers Rs 600cr loan to Bengal for solar park project
outlookindia.com
1970-01-01T05:30:00+0530
Kolkata, Aug 5 (PTI) German KfW Development Bank has

agreed to give a soft loan of Rs 600 crore to West Bengal

power utility for the first phase of a 125MW solar park

project in Purba Medinipur district, Power minister

Sobhandeb Chattopadhyay said.

The project to be executed by the West Bengal State

Electricity Distribution Company Limited (WBSEDCL), on

completion, will double the state''s installed solar capacity

in the state, he said.

The 15-year loan will carry an interest rate of 0.15

per cent and cover 80 per cent of the total project cost of Rs

750 crore.

"For the first phase of the 125 MW solar park at

Dadanpatra in Purba Medinipur, the major cost is being funded

by the KfW totalling Rs 600 crore at a marginal interest rate

of 0.15 per cent. We will fund the rest. The total project is

of 200 MW," Chattopadhay told PTI.

The project will require 1,000-acre plot of which

600-acre has been arranged and the rest is in the process of

acquisition, he said.

The WBSEDCL will pump in Rs 150 crore as equity.

The Department of Economic Affairs (DEA) has given its

clearance for the loan from the German state-owned development

bank.

Asked whether the project is facing delay due to

COVID-19 pandemic, the minister said, cyclone Amphan and

coronavirus-related disruptions had pushed the project but the

state was trying for laying the foundation stone for the plant

before Durga Puja.

The company has issued an expression of interest (EoI)

for engineering, procurement and construction of turnkey PV

solar power plant.

Currently, West Bengal has an installed capacity of

producing 131 MW solar power through various small projects

and rooftop solar photovoltaic projects in schools and office

buildings.

In March 2020, the West Bengal Power Development

Corporation Ltd (WBPDCL), the states thermal power generating

company, had floated a tender for 10 MW grid-connected

floating solar photovoltaic power plants in Sagardighi Thermal

Power Project (SGTPP), Murshidabad at an estimated cost of Rs

60 crore. PTI BSM

MM MM


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

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