Over Rs 32-Trn Finance Available For RE Sector

Union New & Renewable Energy Minister Pralhad Joshi on Monday urged investors to invest in India saying that Rs32.45 lakh crore finance in green projects has been committed by banks and financial institutions.

Addressing the inaugural session of the 4th RE-INVEST 2024, Joshi said: “We have received overwhelming commitments from the States and UTs as well as from developers, manufacturers and financial institutions to support our goal of 500GW by 2030.”

He informed that developers have committed an additional 570GW of capacity addition. The manufacturers have committed additional manufacturing capacities of 340GW in solar modules, 240GW in solar cells, 22GW in wind turbines and 10GW in electrolysers, he said.

Banks and financial institutions have committed to additional $386 billion (Rs32.45 lakh cr) of financing by 2030.