- The solar project will be based in Jodhpur
- The institution has plans to increase the capacity to 616 MW for the solar project by 2022
Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) has announced a loan of $210 million for irrigation and solar energy projects in India. The institution will lend $65 million for a 250-megawatt (MW) solar project in Rajasthan promoted by Hero Future Energies according to an official statement.
Increase the capacity to 616 MW by 2022
It will also lend $145 million to improve irrigation services and strengthen flood risk management in West Bengal. The official statement said that the irrigation project in West Bengal is co-financed by the World Bank. It aims to strengthen the management of the Damodar Valley Command Area irrigation scheme
As per the statement, the funds will be used to modernise irrigation infrastructure at main, branch, distributary and minor canal levels. It will also be used to invest in structural measures to reduce flooding in the project area. The institution has plans to increase the capacity to 616 MW for the solar project in Jodhpur by 2022.
