World Bank lends $100m for India's solar parks

First projects will have around 1GW capacity.

The World Bank announced that it will be shelling out $100m financing for India's large-scale solar parks.

The money will finance the Indian Renewable Energy Development Agency (IREDA) to give out sub-loans to states to invest in these solar projects.

Under the financial support, the first two projects will have capacities of 750MW and 250MW, and will be situated in Rewa and Mandsaur districts.