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Banks, financial institutions provide over Rs 78K crore for clean energy projects
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.
Public sector banks have provided Rs 19,639.52 crore finance for 12,619.83 MW renewable projects and have already released Rs 7,333.35 crore.
Private sector banks have provided Rs 18,660.01 crore for 6,905.24 MW projects, and have released Rs 8,615.07 MW. Luke Kunin Jersey
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