The European Investment Bank (EIB) has agreed to lend €150 million ($160.2 million) for renewables in Bhutan, in order to fund solar and hydropower installations in remote regions. Solar facilities are expected to reduce Bhutan’s reliance on energy imports during the dry months of the year and diversify the nation’s electricity mix.
The EIB has signed its first-ever investment support agreement for Bhutan, through a 30-year, €150 million loan to increase renewable energy generation in the country.
The funds will back the construction of small- to mid-size run-of-river hydropower plants and solar projects, in a bid to help the Bhutanese government to diversify the country’s power mix and serve communities in remote regions.
The new projects will be implemented by Bhutan’s Druk Green Power Corporation. The total capacity of the solar and hydropower installations is expected to reach an…
