Solar financing: Renewable energy ministry issues clarification; says no lender advisory was issued to banks

The Ministry of New and Renewable Energy (MNRE) on Sunday dismissed reports suggesting it had asked lenders to halt financing for renewable energy projects, saying no such advisory has been issued to financial institutions, PTI reported.

In a statement, the ministry said it has not directed banks or other lenders to stop extending loans to renewable power projects or to renewable energy equipment manufacturing facilities. “It is hereby clarified that MNRE has not issued any advisory to financial institutions for stopping lending to either renewable energy power projects or to renewable energy equipment manufacturing facilities,” it said.