Germany would provide Euros 250 million to India for creation of green energy corridors, which will help in integrating renewable energy into the National grid of electricity, Indian power ministry said Tuesday.
"Germany has committed financial and technical assistance to India for the Green Energy Corridors. This would include Financial Assistance of Euro 250 Million as Reduced Interest Loan," ministry stated.
While giving details about the financial distribution, the ministry said that Euro 2 million would be spend on Indo-German Energy Programme - New component on Green Energy Corridors "Another Euro 2 million would be spent for Integration of Renewable Energies into the Indian Electricity System," the ministry noted.
"The Green Energy Corridors project will help in integrating renewable energy into the National grid of electricity. It comprises of both inter-state and intra-state schemes for evacuation of power from wind and solar projects," the ministry said.
The bulk of the electricity in India is produced from coal which is considered as the main source of atmospheric pollution.
The Green Energy Corridors will enable evacuation of over 30,000 MW of renewable energy generated from wind and solar power during the 12th FiveYear Plan in India into the national electricity grid. The corridors would enable the country to get rid of coal producing power and reduce the green house emissions.