In a meeting with the Finance Ministry recently, some 27 state-owned banks have agreed to extend credit of around Rs 1.71 lakh crore to non-conventional energy projects over the next five years. This will help generate 34,000 megawatts of non-conventional power like wind and solar energy in this period.
State Bank of India promised with Rs 75,000-crore commitment, aimed at generating 15,000 megawatt of green power; followed by IDBI Bank, which committed Rs 14,700 crore with 2,940 MW. Bank of Baroda and Bank of India will sanction Rs 12,500 crore and Rs 10,000 crore credits, respectively.
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