NEW DELHI : There seems to be a ‘perfect storm’ brewing in India’s clean energy space.
Already spooked by the spectre of Covid-19 impacting project commissioning schedules and the government’s move to raise import tariffs on equipment, developers now say the situation may be exacerbated by the Reserve Bank of India’s moratorium on capital-starved Yes Bank.
Given that Yes Bank was one of the largest lenders to India’s clean energy space, developers are worried about raising project financing at a time when there is a pipeline of 30,000MW of projects. There is a need to raise funding to the tune of ₹1 trillion even as loans have dried up.
