The World Bank has approved an additional grant of $22.93 million to India to further increase the installed grid-connected rooftop solar photovoltaic (GRPV) programme in the country.
The additional grant under the Global Environment Facility (GEF) grant will support the overall $625 million GRPV programme approved by the World Bank Board earlier this year. It has earmarked a total investment of $915 million for solar rooftop programme. The World Bank would provide incentives to the State Bank of India to provide loans to “riskier categories” of GRPV customers, such as non-banking financial institutions and small and medium enterprises, to finance and install grid-connected rooftop solar photovoltaic cells. Over the next 12 months, the country is expected to add 1.19 GW, the report said. “We expect India’s solar rooftop capacity to reach 12.7 GW by 2021,” the report said.