Via a long-term credit line of USD 30 million to Yes Bank Limited, OeEB finances wind and solar power projects in India.
More than 300 million people in India still do not have access to electricity. In view of the expected economic growth and the country's further industrialization, improving access to energy is essential for India's further economic development.
India's energy supply largely depends on fossil fuels imported from other countries. In order to sustainably improve energy supply and to reduce the country's dependence on energy imports and CO2 emissions, the government aims to increase the use of renewable energy sources.
Yes Bank has a broad customer base and a large branch network, not only in cities but also in rural areas. Moreover, the bank has many years of experience and extensive know-how in financing renewable energy projects in India.
OeEB's credit line is dedicated to the financing of private-sector wind and solar power projects.