Federal Bank to stop funding for thermal power projects by 2030: Official
Federal Bank, the largest and the oldest private sector lender in Kerala, will completely stop funding for thermal power projects by 2030, according to a senior bank official.
As a first step towards its de-carbonisation initiative, the Kochi-headquartered bank will halve its exposure to the thermal power sector by 2025.
The bank’s green power sector exposure is Rs 5,083 crore across seven to eight projects, mostly solar and wind areas.
“We have internally set a target of completely stopping funding thermal power projects/traditional energy sector by 2030.
