Accord Priority Sector to solar Energy: Renewable Energy Ministry

New Delhi: Renewable Energy Ministry has suggested Finance Ministry that solar energy should be included in the priority sector norms of banks.

The suggestion was made by Renewable Energy Ministry in its memorandum to Finance Minister Arun Jaitley who is scheduled to present the Budget on February 28.

“The solar energy sector is facing fund shortage due to payment risk perceived by lenders… there is a case for according priority sector status to renewable energy sector,” an official said.

He further said that renewable energy, which is the priority sector for the government, needs to be given special attention in the forthcoming Budget.

Earlier, Power Minister Piyush Goyal had said that the Renewable Energy Ministry has asked Mr Jaitley to come out with ‘innovative financing models’ in the upcoming Budget to help the sector attract overseas funds, while amending the inverted duty structure.

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