The central government’s decision to allow up to 100 per cent foreign direct investment for any commercial coal mining project does not mean a ready flow of such money, says a study.
As global capital flees thermal coal, the time is not congenial to attract foreign investment. Leading global investors are moving towards renewable energy (RE), says the Delhi-based Centre for Financial Accountability.
Their study analysed 54 energy projects in 2018 and says 80 per cent of the total credit of Rs 30,534 crore was parked in RE ones. Only the remaining 20 per cent went to coal-based generation projects. More, primary finance to the latter fell by 93 per cent in value terms compared with 2017.
