Banks, NBFCs sanction Rs 71k-cr for clean energy projects

As many as 40 banks and NBFCs have sanctioned Rs 71,201.54 crore to finance renewable energy projects and disbursed Rs 29,529.57 crore for the same during February 2015 and March 2016.

“Forty banks and non-banking financial companies (NBFCs) have sanctioned an amount of Rs 71,201.54 crore to finance the various renewable energy projects and disbursed Rs 29,529.57 crore against the sanctioned amount since February 2015 till March 21, 2016. This is a part of commitment made by them during RE-INVEST 2015,” the Ministry of New and Renewable Energy said in a statement.

During RE-INVEST 2015, 40 major banks (public and private sectors), NBFCs and foreign banks operating in India committed to provide a debt funding to renewable energy projects aggregating to over 78.75 GW during the span of next five years. Read More…