Govt banks continue to fund coal projects in India: Report
A majority of government-owned banks and financial institutions continued to fund coal projects in India in 2017, an analysis of energy project lending said. It also reveals that comparatively, private financial companies are investing more in renewable energy projects compared to coal. The report 'Coal vs Renewables Finance Analysis' by the Delhi-based Centre for Financial Accountability (CFA) finds that coal received Rs 60,767 crore ($9.35 billion) in lending whereas renewable energy received Rs 22,913 crore ($3.50 billion). The report identifies and reviews project finance lending to 72 energy projects, comprising of coal-fired power stations and renewable energy generation facilities in India that reached financial close in 2017.
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