Top bankers demands priority lending to renewable energy sector

To meet the target of renewable energy production in the country, renewable energy sector included in priority sector lending, the top bakers observed
 “The new renewable energy policy, that will be enacted soon, shall also have provision for Renewable Generation Obligation (RGO). Non-compliance of RPO (Renewable Purchase Obligation) shall soon draw penalties,” said Piyush Goyal, Minister of State (IC) for coal, power, and new and renewable energy at session titled ‘Financing Renewable Energy: Success Strategies’ during the Renewable Energy Global Investors Meet & Expo (RE-INVEST) summit, New Delhi.
He said that the cost of renewable, except small hydro, has come down drastically over the last decade. “There is a need to socialise the cost of renewable energy through participation of all states, because currently only the states pushing for renewable energy are bearing the burden,” he adds.

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