Low cost financing for Renewable Energy
Updated: Aug 13, 2015 05:07:07pm
New Delhi, Aug 13 (KNN) The Government has taken several major initiatives in coordination with different Ministries and Departments for mobilizing the low cost financing for renewable energy projects.
The low cost financing for renewable energy projects includes low cost borrowing through multi-lateral and bi-lateral agencies like World Bank, Asian Development Bank, KfW Germany, etc.; inclusion of Renewable Energy Projects in Priority Sector Lending Norms of Commercial Banks; and approval for issuance of tax free infrastructure bonds for funding renewable energy projects during the FY 2015-16.
This was stated by Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy in a written reply to a question in the Lok Sabha today.
The Minister further stated that the Rural Electrification Corporation (REC) is providing Renewable Energy loans at the rate of interest which is 0.75 per cent less than the Conventional Generation Projects.
Moreover, there are no restrictions on the loan amount for Renewable Energy Projects and all projects found viable are eligible for funding. Further, in remote villages, Government is also providing grant through REC for Decentralized Distributed Generation under Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY). (KNN Bureau)
The low cost financing for renewable energy projects includes low cost borrowing through multi-lateral and bi-lateral agencies like World Bank, Asian Development Bank, KfW Germany, etc.; inclusion of Renewable Energy Projects in Priority Sector Lending Norms of Commercial Banks; and approval for issuance of tax free infrastructure bonds for funding renewable energy projects during the FY 2015-16.
This was stated by Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy in a written reply to a question in the Lok Sabha today.
The Minister further stated that the Rural Electrification Corporation (REC) is providing Renewable Energy loans at the rate of interest which is 0.75 per cent less than the Conventional Generation Projects.
Moreover, there are no restrictions on the loan amount for Renewable Energy Projects and all projects found viable are eligible for funding. Further, in remote villages, Government is also providing grant through REC for Decentralized Distributed Generation under Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY). (KNN Bureau)
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