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.
|Project name||Bhoruka Power wind farm|
|Region||Southern and Eastern Asia|
|Sector||Energy / Resource efficiency / Infrastructure|
|OeEB project volume||EUR 9.24 million|
|Projekt partner(s)||Bhoruka Power Corporation Limited|
According to a World Bank study, more than 300 million people in India still 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. In order to reduce dependence on imported fossil fuels, to reduce CO2 emissions and to improve energy supply, the government focuses on increasing the use of renewable energy sources.
The 49 MW wind farm, which is constructed by Bhoruka Power in the federal state of Karnataka, contributes to this goal. Karnataka is one of India's regions with the highest potential for wind power generation.