OeEB provides two long-term credit lines of EUR 15 million each to SREI Infrastructure Finance Ltd. to finance energy and infrastructure projects in India.
The development of India's infrastructure is seen as crucial for the country's further economic development. In view of the huge pent-up demand in the infrastructure sector, the increased involvement of the private sector as well as the provision of access to long-term financing is essential.
Especially in the energy sector there is high need for investment. More than 300 million people still do not have access to electricity. Moreover, the energy supply is to a large extent based on imported fossil fuels. In order to sustainably improve the country's energy supply and to reduce CO2-emissions, India's government focuses on increasing the use of renewable energy sources.
SREI is one of the leading private financial institutions in the infrastructure sector in India. Their business activities are focused - among other things - on the financing of projects in the energy, transport and telecommunication sector. OeEB's credit lines support SREI in financing private infrastructure projects - especially renewable energy projects - in India.