SBI extends Rs 2,317 crore for rooftop solar power projects
.jpg)
The State Bank of India (SBI) on Monday announced sanction of Rs 2,317-crore credit facilities to JSW Energy, Hinduja Renewables, Tata Renewable Energy, Adani Group, Azure Power, Cleantech Solar, and Hero Solar Energy, for executing rooftop solar projects with aggregate capacity of 575 Mw.
The sanction is towards financing grid-connected rooftop solar projects under the SBI-World Bank (WB) Programme. SBI has availed a line of credit of $625 million from World Bank for lending to viable grid-connected rooftop solar projects undertaken by photovolatic (PV) developers and end-users, an official statement said.
Financing is being provided to those with sound technical capacity, relevant experience, and creditworthiness, meeting SBI standards, it said.
SBI has so far sanctioned 43 projects with aggregate credit facilities of Rs 2,766 crore under the programme. This would add 695 Mw of solar rooftop capacity to the grid, and is a significant step towards meeting the government’s target of 40 Gw of solar rooftop installations.
With this programme, SBI aims to contribute to the development of the burgeoning rooftop solar market in the country which until now was being held back by lack of targeted financing.
Other Latest News
.webp)
The Supreme Court on Tuesday pulled up the Uttarakhand State Licensing Authority for inaction in the misleading advertisements case involving Patanjali Ayurved Limited.
Expressing dissatisfaction over the explanation offered by the body, a bench of Justice Hima Kohli and Justice Ahsanuddin Amanullah observed it appeared that the licensing authority got activated to take action in accordance with the law only after the apex court's April 10 order.
.webp)
Samajwadi Party MP Dimple Yadav has said India will go back 15 years if the BJP wins the Lok Sabha polls, accusing the party of practising "divisive politics" to divert attention from real issues.
In an exclusive interview with PTI, Dimple Yadav, who is aiming to carry forward the legacy of her father-in-law and SP patriarch late Mulayam Singh Yadav by retaining the Mainpuri seat, asserted that the people are going to vote for change this time.
.webp)
Microsoft will invest $1.7 billion over the next four years into expanding cloud services and artificial intelligence in Indonesia, including building data centres, visiting chief executive Satya Nadella said on Tuesday.
Jakarta is Nadella's first stop on a trip to Southeast Asian countries aimed at promoting the US company's generative AI technology. He will go to Malaysia and Thailand later this week.
.webp)
JNK India stock made a strong market debut on Tuesday with its shares getting listed at Rs 621, a 50 per cent premium over its issue price of Rs 415 per share on the National Stock Exchange (NSE). Post listing, the stock moved to an intraday high of Rs 665, 60 per cent up over issue price.
At 10:02 am, JNK India stock was trading at Rs 651, 57 per cent higher than issue price, with around 6.19 million equity shares changing hands on the NSE, data shows.
.webp)
HSBC said on Tuesday its Chief Executive Noel Quinn will retire - a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.
The bank said it has launched a formal process to find a successor.
.webp)
.webp)
.webp)
.webp)
.webp)
