India, Feb. 18 -- India has secured a $197.67 million guarantee from the World Bank Group to support its rooftop solar expansion plan.

This five-year guarantee, issued by the Multilateral Investment Guarantee Agency (MIGA) to Citibank, backs the refinancing of a $500 million World Bank loan to the State Bank of India (SBI).

The initiative aims to finance grid-connected rooftop solar systems, benefitting commercial and industrial users while contributing to India's climate goals. SBI's project began in 2016 and has successfully installed 1,004 MW of solar capacity.

The collaboration highlights the importance of public-private partnerships in advancing clean energy solutions in India.

Published by HT Digital Content Services with permis...