Banks, financial institutions sanction Rs 1.08 lakh cr for renewables – Feedback

Banks and financial institutions have sanctioned funding of Rs 1.08 lakh crore for renewable energy capacities of 42.71 GW since February 2015, Union Minister Piyush Goyal said on Thurday. Banks and financial institutions have committed total funding of Rs 3.82 lakh crore for 76.35 GW of renewable energy capacities in the country.

“23 public sector & 7 private sector banks and 4 public sector & 2 private sector non-banking financing companies have committed for financing renewable energy projects of 76,352 MW capacity with an outlay of Rs 3,82,255 crore through Green Commitment Certificates during REINVEST 2015 held in February, 2015,” New & Renewable Energy Minister Piyush Goyal said in a written reply to the Lok Sabha on Thursday. He further stated, “These Banks and Financial Institutions (FIs) have supported projects of 42717 MW capacity with sanctioned and released amount of Rs 108,682.20 crores and Rs 50,157.94 crores respectively, as on September 30, 2016 after giving the commitments which is about 27.57 per cent of the commitment made.”

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