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The renewable energy sector, especially wind energy, is suffering because of the reduction in accelerated depreciation tax benefit as
announced
in
the
Budg
Upendra Tripathy, Secretary,
Ministry of New and Renewable
Energy, told The Hindu in an interview. He said the government is
looking into why foreign banks
have not been lending to solar projects in the country though public
sector banks have been enthusiastic and private banks are beginning
to show interest.
you want to give a fillip to the sector, lending is crucial and credit is
vital.
Foreign banks are not giving to
the renewable energy sector and
we are looking into that. We have
requested the Department of Financial Services to put a request to
these banks to also actively participate. We are also hiring a consultant, a retired bank official, who can
go to all these banks and meet their
association president and persuade
them. We are trying to reach out to
them, we cannot force them.
Rooftop solar will also be a part of home loans or home improvement loans.
So any bank that is giving a home loan something private banks must be
doing rooftop solar is a part of it.