Renewable energy minister Pralhad Joshi said he will hold a meeting with banks and the industry leaders in January to discuss increasing financing for renewable energy projects.
"In coming days, I think somewhere in the month of January, I would meet the chairmen and MDs of all banks, in Mumbai," Joshi said while addressing the International Energy Conference organized by the Confederation of Indian Industries (CII).
Last week, renewable energy secretary Prashant Kumar Singh had said there was a need to have a green energy financing obligation on banks as they are currently funding only a small portion of renewable energy projects while non-banking financial companies sanctioned the major portion of their requirement.
Minister Joshi, while speaking to reporters on the sidelines of the event today, added: "We will talk on providing more financing for renewable energy sector."
The meeting is on the lines of achieving India's goal of 500 GW non-fossil fuel based energy capacity by 2030. Around ₹30 lakh crore of investment is needed in the renewable energy sector in the next few years.
Based on India's ambition, it will become one of the top global markets for renewable energy investments, the minister said adding that the country's green capacity addition has been rising.
Between April and November, India added almost 15 GW of renewable energy capacity, nearly double the 7.54 GW added during the same period last year.
He added that in the last three financial year, India has attracted $6.1 billion in FDI into the renewable energy sector.
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