With ₹7,650 crore lent, L&T Finance was top lender to renewable projects in 2018


With ₹7,650 crore lent, L&T Finance was top lender to renewable projects in 2018

L&T Finance Holdings was the biggest lender to renewable energy projects in 2018. The company lent ₹7,650 crore to renewable energy projects, according to a recent report of New Delhi-based research and analysis body, Centre for Financial Accountability (CFA).

There was no public sector commercial bank in the top 10 lenders to the renewable energy sector. In contrast, State Bank of India was the top financier to coal-fired projects, having lent ₹743 crore, the report, which went into 54 power projects that achieved financial closure in 2018, said.

The report notes that the top five renewable energy companies that received loans were: ReNew Power (₹2,301 crore), ACME (₹2,167 crore), Azure Power (₹1,910 crore), Adani Green (₹1,752 crore) and Alfanar Energy (₹1,500 crore).

In all, renewable energy projects received ₹18,263 crore, or $2.64 billion, of loans in 2018. Read More

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