Press Release

Business Outreach Programme for Solar Projects under the Government of India's Lines of Credit (LOCs) held in Chennai (February 11, 2019)

  • Feb 11, 2019
  • MEA

The Ministry of External Affairs in collaboration with the EXIM Bank organized a Business Outreach Programme for Solar Projects under the Government of India’s Lines of Credit (LOCs), on the 11th of February 2019 at the Taj Coromandel in Chennai. The objective of the event was to create awareness among the companies in the solar sector, especially in South India, business chambers, agencies involved in the renewable energy about the opportunities available through the Government of India’s Lines of Credit in solar energy.

The Business Outreach event was attended by more than 400 participants, including Solar companies, business chambers, State Government representatives and Government of India representatives, among other stakeholders. Shri Manoj K Bharti, Additional Secretary, ED & States, in his opening address, welcomed the participants to the outreach event & remarked that the event was a part of the twin objectives of the Ministry of External Affairs which included creating awareness about the opportunities for Indian companies through the GoI’s LOC mechanism particularly in the solar energy sector, as well as, bolstering the State outreach initiatives that are being taken by the Ministry of External Affairs. In this effort, the Indian Missions/Posts abroad would extend assistance to the relevant stakeholders in other countries. Shri David Rasquinha presented a detailed report on the projects undertaken by the EXIM Bank/MEA through the LOCs and invited companies to participate in the solar sector.

Shri Upendra Tripathy, Director General, International Solar Alliance (ISA) elaborated upon the milestones achieved by the International Solar Alliance and thanked the Ministry of External Affairs for the continued support to ISA. He also shed light on the various programmes of the International Solar Alliance in which the companies could participate.

Shri T.S. Tirumurti, Secretary, Economic Relations, Ministry of External Affairs, in his address to the audience, talked about the GoI’s Development Partnership, which he remarked was a key aspect of the India’s foreign Policy. The Development Partnership is a pillar of South-South cooperation, and the Lines of Credit mechanism is a major part of the initiative through which India assists developing countries by providing them with low-interest soft loans. Sh. Tirumurti remarked that holding the event in Tamil Nadu is of great significance as the state is a major contributor to India’s renewable energy generation and is one of the top nine markets globally to have achieved an exceptionally large share of renewable energy generation.

Following this, the Solar Companies namely, TUV-SUD and Sterling and Wilson Ltd shared their experiences in the sector with the audience.

In the panel discussion that followed, Sh. Ajay Kumar, Joint Secretary, Development Partnership Administration (DPA-I), along with Sh. David Rasquinha responded to the technical queries from the participants and elaborated upon the various mechanisms through which companies can take part in the Lines of Credit programme. The companies were also advised to check the EXIM bank website on a regular basis for updates on the available tenders on solar projects.

Chennai

February 11, 2O19

Register for unlimited access to Energy news and press releases