The project aims to accelerate the adoption of environmentally sustainable biomass power and cogeneration technologies in India. It will promote innovative biomass projects of combustion, gasification, methanation, and cogeneration technologies for electricity generation.
Germany's KfW Development Bank is implementing the project in cooperation with the Indian Renewable Energy Development Agency (IREDA). For the project, KfW has extended a loan of 20 million euros to IREDA – its third Line of Credit to promote renewable energy and energy efficiency projects in India.
Five to seven Model Implementation Projects (MIPs) will be set up to demonstrate how technological, institutional and financial barriers can be overcome. It reflects the Government of India’s agenda of inclusive growth and its focus on a low carbon growth strategy for power generation in India.
The project has strengthened IREDA in fulfilling its promotional role and financed MIPs to serve as a reference for future funding from commercial banks. It has contributed towards increasing the share of renewable energy capacities in India, thereby reducing greenhouse gas emissions.