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 15 million
Total investment volume USD 139 million
Projekt partner(s) ReNew Wind Energy Private Limited, Asian Development Bank, Japan International Cooperation Agency

According to a study of the World Bank, 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 the country’s 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 will have a total capacity of 110 MW and will be constructed in the federal state of Karnataka in South India.