Post by Dr. Utparn Dubey

World Bank Approves $890 Million for India's PM Surya Ghar Rooftop Solar Programme The funding will support the implementation of the PM Surya Ghar: Muft Bijli Yojana, the Government of India's flagship residential rooftop solar programme. The initiative is expected to increase household access to clean electricity, stimulate domestic solar manufacturing and services, and improve the availability of affordable financing for residential consumers. Blended Financing to Catalyse Private Investment The financing package comprises an $820 million loan from the International Bank for Reconstruction and Development (IBRD), a $60 million concessional loan from the Clean Technology Fund, and a $10 million grant from the IBRD Livable Planet Fund. The World Bank said improving access to affordable finance, including collateral-free loans, will be critical to increasing residential solar adoption across the country. India's PM Surya Ghar: Muft Bijli Yojana targets rooftop solar installations on 10 million households, making it one of the world's largest residential solar programmes.Apart from supporting household financing, the initiative is expected to help strengthen the broader rooftop solar ecosystem by building the capacity of financial institutions, electricity distribution companies (DISCOMs) and solar solution providers.