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The OPEC Fund
for International
Development
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  2. India Sustainable Renewable Energy Development (ISRED) Programme

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India Sustainable Renewable Energy Development (ISRED) Programme

India

Borrower India
Financing Type Public Sector
Instrument Project Loan
Focus Area Energy
Approved 11.12.2013
Status Cancelled
Loan Administrator OPEC Fund
Executing Agency The Department of Economic Affairs (DEA) under the Ministry of Finance of India
Co-financiers Government
OPEC Fund Contribution (US$m) 50.00
Total Project Cost (US$m) 165.67

To support India's government in developing cornerstone projects and institutional reforms to help strengthen the energy sector as part of its poverty alleviation efforts. Components of the OFID-co-financed program include: development of infrastructure and related operations and management systems for greenfield projects that utilize wind energy and waste-to-energy technologies sectoral institutional development strengthening project management and consultancy services The creation of renewable energy generation infrastructure will help improve living conditions and livelihoods of around 55,000 households. The delivery of a reliable supply of electricity will also raise the efficiency of social services and is expected to encourage the development of local industries, which enhance socio-economic development in the project area and the country in general. The program will also reduce energy costs for households and farms that presently rely on expensive alternatives.

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