OeEB signed a long-term credit line of USD 20 million to PTC India Financial Services Limited for renewable energy and energy efficiency projects in India.
More than 300 million people in India do not have access to electricity. In order to improve the energy supply and to reduce greenhouse gas emissions the Indian government focuses on increasing the use of renewable energy.
PTC India Financial Services Limited (PFS) specialises in financing projects in the energy sector. In doing so, it focuses increasingly on wind and solar power projects which offer great potential in India. Moreover, there is large potential for improving energy efficiency.
OeEB's funds enable PFS to extend its lending activities in the field of renewable energy and energy efficiency and this way contribute to improving India's energy supply.