Monday, 16 February 2015

SBI Commits Rs 75,000 Cr For Financing Clean Energy

Country's largest lender State Bank of India committed Rs 75,000 crore for generation of 15,000 MW of renewable energy in the next 5 years. "SBI has committed to provide Rs 75,000 crore over a period of five years for the renewal energy sector," SBI Chairperson Arundhati Bhattacharya said at the first Renewable Energy Global Investors Meet (RE-Invest) here. "The funding would be for 15,000 MW of renewal power. Of course, the proposals will have to be viable and they also have to be viable as per the norms of the banks,"  SBI has a loan exposure of Rs 1.78 lakh crore in the power sector including conventional energy and discoms. The bank's outstanding loans towards clean energy is to the tune of Rs 7,500 crore.  interest rate can come down for the sector, provided RBI classifies renewal energy in priority sector lending category.

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