German development bank to underwrite Indian wind, solar projects

first_imgGerman development bank to underwrite Indian wind, solar projects FacebookTwitterLinkedInEmailPrint分享Renewables Now:German state-owned development bank KfW will lend EUR 200 million (USD 228m) to India so as to help the country provide low-interest loans for around 200 MW of new renewable energy capacity.The bank has signed a credit line agreement with India’s Rural Electrification Corporate Ltd (REC), which plans to back solar and wind power projects, the lender announced this week. The specific loans will be supplemented by counterparty contributions of up to 30% from the borrowers and contributions from other lenders. The provided financing will target projects in the private sector and will support 200 MW of renewables. The new capacity, seen to meet the demand of about 270,000 homes, will help offset up to 285,000 tonnes of carbon dioxide (CO2) emissions annually.“KfW’s financing to promote the increased use of renewables will make an important contribution to slowing the rise in greenhouse gas emissions and reducing the deficit in the power supply,” said Joachim Nagel, member of the KfW Group executive board.Additionally, REC will get a EUR 1-million grant from KfW to improve standards in the Indian energy sector, the German lender said.India’s goal is to have 175 GW of installed renewables capacity by 2022 and account for 50% of its total power generation. The target for solar and wind is 100 GW and 60 GW, respectively.More: Germany’s KfW to help fund 200 MW of renewables in Indialast_img read more

Good Governance: Being chair is more challenging than you think

first_imgWhen we work with credit union boards, and in particular with chairs, we’ll often start by asking the provocative question, “Should boards manage?” Immediately the resounding response, of course, is “No!” But when we ask our clients to dig a little deeper, to think a little harder about the important work they do to govern their credit unions, ultimately one brave individual will, in a quiet, tentative voice say, “Yes … ?” That response is often more of a question than an answer—remembering that the board is responsible for managing its one employee, the credit union’s CEO.Go further, we implore them. Deeper.The board is also responsible for managing itself—for managing the work of the board, ror ensuring that it effectively and efficiently fulfills its solemn roles and responsibilities. And to that end, we consider the chair to be the “Board Operations Manager in Chief.”But how many chairs are fully prepared to take up this important mantle? If you are, or have been, the chair of your credit union’s board, did you go to school to learn how to be effective? Did you attend board meeting facilitation training? Get schooled in board meeting agenda design? Public speaking? CEO relations? You get the point. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more