India Invites Bids for $8 Billion Renewable Grid Upgrade
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India will begin construction this year on an $8 billion project backed by Germany’s development bank to upgrade its grid to handle a more than doubling of renewable power capacity by 2022.
Power Grid Corp of India Ltd., the state-run utility that transmits about half the electricity generated in the nation, has invited bids for work beginning in Rajasthan and Tamil Nadu states, Andreas Thermann, deputy director at Germany’s KfW, which will lend an initial 250 million euros ($334 million) to the project, said in a phone interview from New Delhi.