International Finance Corporation (IFC), the private lending arm of the World Bank, and Gujarat Energy Research and Management Institute (GERMI) have teamed up to identify and develop renewable-energy projects in South Asia.

IFC is working with Gujarat Energy Research and Management Institute to design and structure a distributed-rooftop solar-power project in Gandhinagar. The project, a 5MW  solar installation, is expected to reduce greenhouse-gas emissions by about 6,000 tonne a year and mobilize about USD 20 million in private sector investment.

“GERMI’s research and training capabilities can now be combined with IFC’s financial expertise and ability to implement clean-energy projects on a much wider scale,” said D. Jagatheesa Pandian, Chairman of GERMI.

This initiative will, for example, help explore opportunities and evolve solutions, including replicating solar-rooftop projects in cities like Bhuj and Rajkot, exploiting Gujarat’s geothermal potential, sharing knowledge on ways to encourage private investment in solar projects and explore public-private partnership opportunities to harness solar energy in other states as well.

source:  moneycontrol

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