Rewa solar park, to be first beneficiary sovereign guarantee scheme by govt

The discount likely to be extended to smart city projects

In order to promote infrastructure development, the government has started to lower sovereign guarantee fee. Among the first beneficiary is the Rewa ultra mega solar park and the next in line is likely to be smart cities.

Rewa Ultra Mega Solar Ltd (RUMS) will get a World Bank loan of $98 million, for which the sovereign guarantee fee will be a concessional 0.5 per cent, and the loan will be channelled through the Indian Renewable Energy Development Agency (IREDA). 

Senior officials told Business Standard that Indian Infrastructure Finance Corporation Ltd (IIFCL) was likely to be the second beneficiary of a