The Ujjwal Discom Assurance Yojana (UDAY) scheme started by the Ministry of Power in 2015 could be a model for the rest of the world, global bankers participating in a panel discussion on renewable energy felt.
“I applaud this initiative which brings about massive rotation of capital,” said Michael Eckhart, Managing Director, Global Head of Environmental Finances and Sustainability at Citibank. Under UDAY, state government underwrite loans taken by their discoms, thereby increasing their creditworthiness.
The discussion, on ‘Bankers’ perspective on renewables’, moderator by former Chairman of State Bank of India, Arundhati Bhattacharyya, and part of RE Invest 2018, currently being held in Delhi, saw bankers express both appreciation of, and reservations about, India’s renewable energy programme. Read More
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