MNRE Clarifies No Advisory Issued To Halt Financing For Renewable Energy Projects

New Delhi, Dec 8 (KNN) The Ministry of New and Renewable Energy (MNRE) on Sunday clarified that it has not issued any advisory instructing financial institutions to stop lending for renewable energy (RE) projects or equipment manufacturing, following media reports suggesting otherwise.

Support for Solar Manufacturing Finance

The ministry shared detailed information on domestic solar PV manufacturing capacities.

This data spans all segments of solar manufacturing, including modules, upstream components (solar cells, ingots, wafers, polysilicon), and ancillary equipment like solar glass and aluminium frames.

Commitment to Self-Reliance and Global Leadership

The Ministry reiterated the government’s commitment to making India self-reliant in solar PV manufacturing and a key player in the global solar value chain. Support mechanisms include the Production Linked Incentive (PLI) Scheme for High Efficiency Solar PV Modules and policies ensuring a level playing field for domestic manufacturers.

Growth in Solar Capacity

India’s solar manufacturing capacity has grown significantly, from 2.3 GW in 2014 to around 122 GW today, according to MNRE’s Approved List of Models and Manufacturers (ALMM).

The ministry highlighted that this growth reflects coordinated efforts by the industry, state governments, and the central government, reinforcing India’s goal of achieving 500 GW of non-fossil fuel capacity by 2030 and contributing to global decarbonisation efforts.

(KNN Bureau)