Banks, financial institutions provide over Rs 78K cr for clean energy projects – Feedback

Banks and financial institutions have sanctioned about Rs 78,830 crore funding for clean energy projects, of which Rs 33,482.83 crore has been released till March end this year, Parliament was informed today.

“Banks and financial institutions (FIs) have supported (renewable energy) projects of 30,983.70 MW capacity with sanction and released an amount of Rs 78,829.69 crore and Rs 33,482.83 crore respectively as on March 31, 2016,” Power, Coal, Mines and New & Renewable Energy Minister Piyush Goyal said in a written reply to Rajya Sabha today. Overall, as many as 23 public sector and 7 private sector banks as well as 4 public sector and 2 private sector non-banking financing companies (NBFCs) have committed for financing renewable energy projects of 76,350 MW in the country with an outlay of Rs 3,72,240 crore. Goyal said the World Bank has also approved a loan of USD 620 million (Rs 4,228 crore) and a grant of USD 5 million (Rs 34.50 crore) from clean technology fund for the grid connected rooftop solar programme in May 2016.

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