India’s Largest Bank Commits $12.5 Billion For Renewable Energy Funding

Via Clean Technica

New Delhi, Feb 19 - Private sector project developers in India’s rapidly growing renewable energy would be happy to have the backing of the country’s largest bank as they get ready to participate in cut-throat competitive bidding.

The State Bank of India (SBI) has committed to provide $12.5 billion in debt funding to renewable energy projects over the next few years. The announcement was made at the RE-INVEST summit organised by the Ministry of New and Renewable Energy.

The bank hopes to provide debt financing to 15 GW of renewable energy projects, most of which are likely to be based on wind and solar energy.

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