Indian Government Raises INR 16,000 Cr through Sovereign Green Bonds
A substantial portion of the proceeds, amounting to INR 6,186 crores, has been earmarked specifically for financing renewable energy projects.
December 08, 2023. By Abha Rustagi
A substantial portion of the proceeds, amounting to INR 6,186 crores, has been earmarked specifically for financing renewable energy projects, marking a significant stride towards sustainable and green initiatives.
This information was provided by Minister Singh in a written reply to a question in the Lok Sabha.
The draft National Electricity Plan, prepared by the Central Electricity Authority (CEA), outlines the estimated fund requirement for solar and wind generation projects from FY 2022 to 2032 as INR 20.67 lakh crore. This underscores the critical role of financial support in driving the growth of the renewable energy sector.
Renewable energy projects in India are primarily developed by Independent Power Producers (IPPs), with private sector developers playing a crucial role in their establishment through transparent bidding processes. Equity funding sources include private equity capital, developers' own funds, venture capital, among others, while debt financing is facilitated through commercial banks, financial institutions like IREDA, and borrowings from multilateral and bilateral agencies.
The government has implemented a series of measures to attract investment in the renewable energy sector, including permitting 100 percent Foreign Direct Investment (FDI) under the automatic route, waiving Inter State Transmission System (ISTS) charges for inter-state sale of solar and wind power, and declaring plans to add 50 GW of renewable energy capacity annually for the next five years.
To bolster the financial health of the sector, the government has raised Sovereign Green Bonds, providing low-cost funds for renewable energy projects.
Additionally, initiatives such as the Production Linked Incentive (PLI) scheme for solar PV manufacturers, reducing PPA counterparty risk, and various schemes like Liquidity Infusion Scheme for Distribution Companies contribute to the overall resilience and vitality of the renewable energy sector.
please contact: firstname.lastname@example.org.
September 24, 2024
2024 Solar PV & Energy Storage World Expo
August 08, 2024
SNEC 17th (2024) International Photovoltaic Power Generation and Smart Energy Conference & Exhibition
June 04, 2024
Net Zero Tech
June 05, 2024
April 26, 2024
CEO & CTO
Fuji Electric India launched PV1500 series central inverters for large-scale solar plants
Vice President and Country Managing Director-India
First Solar has created approximately 1000 high-skilled jobs at our India facility
Prasanna Kumar Motupalli
Chairman & MD
NLCIL is targeting to increase to about 6 GW Renewable Energy Capacity by 2030
Chairman and MD
EKI has been at the forefront of driving awareness of green hydrogen and green ammonia