In 2017, The European Investment Bank Will Invest 10.5 Billion Euros In Photovoltaic Power Generation

- Mar 23, 2018-

In 2017, the European investment bank of the European Union (EIB) provided 1.05 billion euros for global photovoltaic projects.

Last year's financing of solar photovoltaic was the largest since funding began in 2012, the EIB said in a news release.Since then, the bank has provided 6.3 billion euros of solar power globally, with about half of its money going to emerging economies.

As for last year's investment, the European investment bank says 13 other eu countries have benefited from it besides India, Mexico and Peru.In particular, the Indian market has received about 640 million euros in EIB investments since 2013.Because of India's ambitious plans to deploy 100 gigawatts of pv capacity by 2022, and is steadily being implemented, this is a key market for the EIB.

European Union ambassador to India TomaszKozlowski said: "the European Union and India is committed to implementing climate treaty of Paris, in a concerted effort to achieve sustainable development goals, including to ensure everyone get the price is reasonable, reliable, sustainable and modern energy."

"As an eu bank, the EIB has a good record of supporting investment in transition in India and working with Indian partners to strengthen solar investment and benefit millions of Indian households."Kozlowski added.

The European investment bank, says the next will be held in new Delhi recently international solar union summit, and India's renewable energy development agency (IREDA) cooperation, to invest 500 million euros for the country's new renewable energy.