World Bank Approves US$890 Mln for India's Rooftop Solar Programme
NEW DELHI, July 10 (Bernama-Xinhua) -- The World Bank has approved a financial package of US$890 million for India's rooftop solar programme in a bid to bring clean energy to millions of homes and create 1.7 million job opportunities in the country, reported Xinhua.
The loan was approved by the World Bank's Board of Executive Directors, the multilateral funding agency said in a statement on Friday.
According to the agency, India has committed to achieving net zero by 2070 and increasing non-fossil-fuel-based energy resources to 60 per cent of its electricity mix by 2035.
To unlock the solar power potential, the Indian government established a scheme to incentivise solar rooftop installation for 10 million rural and urban households nationwide, with the aim to reduce household electricity costs and encourage local manufacturing of solar rooftop equipment.
--BERNAMA-XINHUA
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