SBI sanc­tions ₹2,317 crore for fi­nanc­ing so­lar power projects

The Hindu Business Line - - BANKING -

State Bank of In­dia on Mon­day an­nounced sanc­tion of credit fa­cil­i­ties amount­ing to ₹2,317 crore to cor­po­rates for fi­nanc­ing Grid Con­nected Rooftop So­lar projects un­der an SBIWorld Bank pro­gramme.

This fund­ing will cre­ate so­lar power ca­pac­ity ag­gre­gat­ing 575 MW.

In­dia’s largest bank sanctioned loans to JSW En­ergy, Hin­duja Re­new­ables, Tata Re­new­able En­ergy, Adani Group, Azure Power, Clean­tech So­lar and Hero So­lar En­ergy.

SBI Chair­man Ra­jnish Ku­mar said play­ers in the re­new­able en­ergy space can avail loans for es­tab­lish­ing grid con­nected rooftop so­lar projects at the bank’s mar­ginal cost of funds based lend­ing rate plus 15 ba­sis points.

The bank cur­rently has a re­new­able en­ergy loans port­fo­lio of ₹12,000 crore with nearly nil non-per­form­ing as­sets (NPAs), he added.

Ku­mar said care will be taken to ex­tend loans only to those re­new­able en­ergy projects that are vi­able.

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