India, the world’s fourth largest economy with the second largest population, is on the brink of a solar power revolution. It aims to increase overall solar energy generation from 3 gigawatts (GW) to an ambitious 100 GW by 2022 and address the unmet energy needs of over 200 million people unconnected to the electrical grid.
Source: World Bank
India is leading the way for a new era of low carbon development, and its solar ambition will help transform an energy structure currently dominated by coal. The majority of India’s $775 million CTF investment plan supports the development of over 3 GW of new installed solar power capacity and associated transmission infrastructure.
In particular, CTF concessional financing is helping to offset the high upfront costs of large-scale solar park projects and to de-risk investments in rooftop solar photovoltaics to unleash its full market potential.
Solar ambitions are leading the way for a new era of low carbon development
|NAME||FUND||FUNDING (USD MILLION)||COFINANCING (USD MILLION)||MDB|
|Development Policy Loan to Promote Inclusive Green Growth and Sustainable Development in Himachal Pradesh||FUNDClean Technology Fund||COFINANCING (USD MILLION) 100||FUNDING (USD MILLION) 2058||MDBIBRD|
|Partial Risk Sharing Facility for Energy Efficiency||FUNDClean Technology Fund||COFINANCING (USD MILLION) 25||FUNDING (USD MILLION) 139||MDBIBRD|
|Rajasthan Renewable Energy Transmission Investment Program (Multi-tranche Financing Facility / MFF)||FUNDClean Technology Fund||COFINANCING (USD MILLION) 199.91||FUNDING (USD MILLION) 600||MDBADB|
|Solar Park Transmission||FUNDClean Technology Fund||COFINANCING (USD MILLION) 50||FUNDING (USD MILLION) 400||MDBADB|
|Solar Parks Infrastructure||FUNDClean Technology Fund||COFINANCING (USD MILLION) 50||FUNDING (USD MILLION) 175||MDBIBRD|
|Solar PV Generation by SECI||FUNDClean Technology Fund||COFINANCING (USD MILLION) 49.81||FUNDING (USD MILLION)||MDBIBRD|
|Solar Rooftop PV||FUNDClean Technology Fund||COFINANCING (USD MILLION) 125||FUNDING (USD MILLION) 790||MDBIBRD|
|Solar Rooftop PV||FUNDClean Technology Fund||COFINANCING (USD MILLION) 174.75||FUNDING (USD MILLION) 830||MDBADB|
The CIF programmatic approach to investment planning and implementation brings strategic value to CIF recipient countries. Working through a transparent, country-led process, the CIF fosters trust and collaboration among government ministries, civil society, indigenous peoples, private sector, and the MDBs that implement CIF funding . Together they translate Nationally Determined Contributions and other national development and climate strategies into an actionable CIF investment plan. Rather than one-off projects, the plan comprises long-term, sequenced investments that mutually reinforce each other and link to other critical activities, such as policy and regulatory reform and capacity building. Under national government leadership, CIF stakeholders continue to work together to implement the plan, continually assessing progress and sharing lessons learned along the way.