European Investment Bank has announced that it will support Indian Government’s recently approved National Green Hydrogen Mission with a loan of over €1 billion that will boost India’s green hydrogen mission and renewable energy projects.
Kris Peeters, EIB’s vice-president will confirm the lender’s interest in providing the loan facility during his upcoming trip to India this week to attend G20 events.
EIB in its statement said, “Peeters will highlight the EIB’s interest in boosting India’s renewable energy ambitions by backing renewable energy generation, as well as enabling technologies and infrastructure for energy storage, power transmission and distribution.”
“The aim of the visit is to confirm the EIB’s commitment to future investment under the EU-India Connectivity Partnership, in support of the European Green Deal and the EU Global Gateway strategy, and in support of India’s own ambitious agenda on climate, renewable energy, connectivity and sustainable finance, in particular by supporting projects with strong climate action benefits,” the statement further said.
While EIB VP Kris Peeters said, ““The European Investment Bank, the EU bank, is committed to supporting transformational private and public investment across India, improving access to finance by entrepreneurs and addressing the challenges of a changing climate.”
“India is a key country of operations for the EIB and hosts the EIB regional representation for South Asia,” he added.
