In February 2014, OeEB teamed up with DEG to finance the construction and operation of a wind farm in India. OeEB’s participation took the form of a EUR 9 million risk participation in DEG’s credit line to Bhoruka Power.
According to a study of the World Bank, more than 400 million people in India – around one third of the population – don’t have access to electricity. In view of India’s expected economic growth and further industrialisation in the coming years, energy will be one of the key factors for the country’s development.
India’s energy supply is still largely based on fossil fuels, especially on coal which, to a large extent, needs to be imported. In order to reduce the country’s dependency on the import of resources and to secure the energy supply in the future, the share of renewable energy in the energy mix will have to be increased.
The 49 MW wind farm, which is being constructed by Bhoruka Power in the federal state of Karnataka contributes to this goal. Karnataka is one of the Indian states with the highest potential for wind energy generation.