In December 2017, OeEB signed a long-term loan to finance the construction of two wind farms in South India.

Project name ReNew Wind Energy
Region Southern and Eastern Asia
Sector Energy / Resource efficiency / Infrastructure
Service Investment Finance
Project country India
OeEB project volume USD 11.75 million
Projekt partner(s) ReNew Wind Energy (Sipla) Private Limited, DEG

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 two wind farms co-financed by OeEB with a total capacity of 110 MW will be constructed in the state of Karnataka in South India and will make an important contribution towards improving the country’s energy supply. Karnataka has one of the highest power deficits in the country and with the two wind projects electricity for more than 200.000 persons could be provided.