India’s Largest Bank Commits $12.5 Billion For Renewable Energy Funding
The renewable energy sector in India has faced collateral damage for years due to the poor financial health of the power sector as a whole. Several power sector companies are reeling under millions of dollars of losses, and banks have exhausted their lending limits to the power sector. Unfortunately, renewable energy is considered a sub-sector to the power sector for lending purposes in the Indian banking regime. As a result, the Indian banks are unable to disburse any fresh funds to renewable energy projects.