What is the nature of IFC’s energy portfolio in India?
Over the past 5 years, IFC’s strategy in the South Asia region has included a marked emphasis on renewable energy. IFC has a portfolio of 7 power projects in India, of which one is coal-fired, 2 are hydropower, one is wind, 2 are biomass and one is in the transmission sector. Recently, IFC played a key role in financing a solar photovoltaic manufacturer in India. This company, Moser Baer has a targeted capacity of 80MW per annum and an objective of reducing costs of solar power over a five-year period to a level which is competitive with other energy sources. Currently, IFC is actively supporting several pilot projects in partnership with the private sector to demonstrate scalability of distributed generation using renewable energy in rural India. IFC will continue to focus on renewable energy.
