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News Brief | December 2015

Finance Ministry convenes bank meet to discuss RE funding

Finance Minister Arun Jaitley reviewed the performance of Public Sector Banks, MNRE also discussed the status of commitment given by banks for funding of renewable energy projects over the next five years, for the government´s plan to add 175 GW renewable energy capacity by 2022.

´Availability of more funds at a right price will come up for discussion at the meeting. Earlier banks were reluctant to give money, but that problem is not there today. Money is available, but it is expensive; so getting money at the right price is the main challenge,´ MNRE joint secretary Tarun Kapoor stated.

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