Minister of New and Renewable Energy, Farooq Abdullah has said that Germany will provide India a soft loan of euro 1 billion for strengthening the transmission system in the country to carry more renewable energy.
This news appeared on Times of India. And as per Farooq Abdullah, the Agreement may be signed as soon as Tomorrow.
Abdullah, who is part of a delegation led by Prime Minister Manmohan Singh that arrived in Germany, Wednesday on a three-day visit, said the deal would be signed after the second round of inter-governmental consultations between the two countries here Thursday.
Officials said cooperation in green energy would be one of the focus areas of discussion when the prime minister meets German Chancellor Angela Markel Thursday. Also According to new and renewable energy secretary Ratan P. Watal, an investment of around Rs.40,000 crore ($7.5 billion) is required for strengthening the transmission system of green energy in India over the next four years.
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