Other government agencies that actively fund renewable energy projects are the Power Finance Cooperation (PFC), the Rural Electrification Corporation (REC), and National Bank for Agricultural and Rural Development (NABARD). Corporate financiers of renewable energy projects in India are primarily concentrated on the large wind and hydropower projects, where captive power generation and the application of accelerated depreciation benefits play a significant role. Of late, the growing awareness and favorable government policies & regulatory mechanisms (both at Central & State level) have led to gradual increase in confidence of domestic commercial banks providing loans to renewable energy projects. A number of microfinance institutions (MFIs) facilitate the purchase of renewable energy systems like solar cookers, solar lanterns, or small biogas plants in off-grid areas of the country. The Self Employed Women’s Association (SEWA) is perhaps the most well-known example of an MFI in India.
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Friday, January 14, 2011
Financing of Renewable Energy Projects
Other government agencies that actively fund renewable energy projects are the Power Finance Cooperation (PFC), the Rural Electrification Corporation (REC), and National Bank for Agricultural and Rural Development (NABARD). Corporate financiers of renewable energy projects in India are primarily concentrated on the large wind and hydropower projects, where captive power generation and the application of accelerated depreciation benefits play a significant role. Of late, the growing awareness and favorable government policies & regulatory mechanisms (both at Central & State level) have led to gradual increase in confidence of domestic commercial banks providing loans to renewable energy projects. A number of microfinance institutions (MFIs) facilitate the purchase of renewable energy systems like solar cookers, solar lanterns, or small biogas plants in off-grid areas of the country. The Self Employed Women’s Association (SEWA) is perhaps the most well-known example of an MFI in India.
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