State Bank of India said the lending will be available to “viable” renewables projects, as Prime Minister Narendra Modi invited investors to help deliver its huge clean-energy ambitions at an event in New Delhi.
Availability of affordable finance has been named as one of the obstacles to India's massive renewables build-out plans.
A State Bank of India official is quoted on its website saying that the interest rate will vary from project to project, and joining other banks in calling for the Reserve Bank of India (RBI) – India's central bank – to give renewable energy Priority Sector Lending Status alongside other industries such as agriculture and housing
RBI priority status would provide incentives for banks lending to renewables and could reduce interest...
