Skip to main content

India 'shifting' in favour of renewables? 90% decline in finance to coal power projects


The Centre for Financial Accountability (CFA), a top Delhi-based advocacy group, has said that an analysis of 52 project finance deals comprising loan component across coal-fired power and renewable energy projects (hydroelectric, geothermal, wave, wind and solar power projects), shows that 80 per cent of the project money went to renewables last year.
Pointing out that coal received just 20 per cent of the project finance, the analysis said, of the total lending to coal power projects (Rs 6,081 crore), Rs 3,938 crore came from majority government-owned financial institutions. On the other hand, of the total lending to renewable power projects (Rs 24,442 crore), Rs 18,263 crore came from majority privately-owned commercial banks.


The CFA analysis asserted that this trend is consistent with findings from 2017, adding, the deals were identified via investigation of subscription-based financial databases provided by Bloomberg Professional, IJGlobal, Thomson Reuters and market disclosures. It underlined, there was an astonishing 90 per cent decline in 2018 coal power project finance/lending compared to 2017.

Comments

TRENDING

Anti-CAA protest in Lucknow: Notice to rights lawyer, ex-IPS to pay up Rs 64 lakh

Uttar Pradesh-based human rights sdvocate Mohammad Shoaib, who is also state president of the Socialist Party (India), retired Indian Police Services (IPS) officer SR Darapuri, a rights campaigner, and others accused of “instigating violence” during protests against Citizenship Amendment Act (CAA) and National Register of Citizens (NRC) in Lucknow, have been served notices for recovery of Rs 64,37,637, threatened with seizure of property in the event of non-payment within a week.

NGOs launch all-India campaign to bridge increased learning gaps during Covid-19

Even as launching a new campaign, Mission 3-5-8, for “activating” the collapsed education system in across India amidst Covid-19 crisis, a group of civil society organizations regretted that there is an urgent need to bridge learning gaps that have come about between privileged and underprivileged sections of people during the pandemic.

Industry group seeking to 'hide' effluent discharge point of South Gujarat river?

Following a video taken by well-known environmentalist Rohit Prajapati taken from Vishala bridge in Ahmedabad, and published in Counterview, showing how untreated effluent is being discharged into Sabarmati river, efforts appear to have begun to “cover-up” such discharge points by allegedly seeking to hide the top spots of discharge points.

No city govt 'controls' all 18 functions as per 74th Constitutional amendment

A senior expert has revealed that despite more than a quarter of a century of the 74th Constitutional Amendment Act, which mandated setting up and devolution of powers to Urban local bodies (ULBs) or city governments are not abiding by its provisions. The Act, said Dr Soumyadip Chattopadhyay, senior fellow, Impact and Policy Research Institute (IMPRI) and associate professor, Viswa Bharti University, mandates 18 principles be followed by the city government. “But not a single city government has control over all 18 functions”, he regretted.

Hospital biomedical waste during Covid-19 increased by 5-6 times: UN expert

A senior United Nations expert on waste management has raised the alarm that while before the Covid-19 outbreak, a government or a private hospital would typically produce 500 grams of biomedical waste like syringes, urine bags, gauze, etc) per bed, daily, now, that number has gone up to between 2.5 kg to 4 kg per bed.

Draft environmental notification suggests Govt of India's 'regressive' mindset

Top Gujarat environmentalist Rohit Prajapati, taking strong exception to the draft Environment Impact Assessment (EIA) notification, 2020, has demanded that, in view of its proposed “regressive changes” amidst Covid-19 crisis, the EIA notification should be immediately withdrawn and not implemented at all. The deadline for public comments for the notification ended on June 30.

US religious freedom report to have 'serious consequences' for Indian business

The Washington DC-based Centre for Pluralism even as welcoming the recent United States Commission on International Religious Freedom (USCIRF) report, released by the US Department of the State (DOS), agreeing with the suggestion on the need for “penalties” against Union home minister Amit Shah, “the man behind the violations.”

Macwan starts missed call drive to remove Manu statue in Rajasthan HC area

In a fresh campaign, Dalit rights leader Martin Macwan has asked people to give a missed call on 9823157779 asking Congress president Sonia Gandhi to impress upon Rajasthan chief minister Ashok Gehlot to ensure removal of Manu’s statue from the state High Court premises.

NHRC 'disposes of' complaint on dismissal of Amreli's 176 sanitary workers

The National Human Rights Commission (NHRC) has disposed of the complaint made by a Gujarat Dalit rights activist, Kantilal Parmar, who had sought action against the authorities, which had allegedly dismissing 176 sanitary workers of Saurashtra region’s Amreli municipality a year ago. It asked the state’s principal secretary, labour and employment, to take “necessary” action.