Banks Urged to Prioritize Renewable Energy Financing

13 Dec 2024 CW Team

Ministry of New and Renewable Energy (MNRE) Secretary P K Singh has called on banks to adopt a renewable energy financing obligation to meet India’s growing investment demands in the sector. Speaking at the Global Economic Policy Forum by the Confederation of Indian Industry, Singh underscored the necessity of Rs 30 trillion ($360 billion) investment for achieving renewable energy goals.

NBFCs Leading, Banks Lagging Singh pointed out that non-banking financial companies (NBFCs) currently dominate renewable energy financing, with banks contributing minimally. "A renewable energy lens is crucial to achieving climate change goals and de-carbonizing India's economy," he said.

India’s Renewable Energy Milestones India is now the third-largest producer of renewable energy globally, overtaking Brazil, and holds the same rank in solar energy production, surpassing Japan. Singh emphasized the need for sustained financial backing to maintain this momentum.

Energy Transition Costs and Opportunities Dr. Auguste Tano Kouame, World Bank’s Country Director for India, explained that energy transition costs are substitutional, not additional, and essential for economic transformation. He noted that while 5.6 million workers are employed in coal-related sectors, renewable energy could create 56 million new jobs.

Clean Air and Climate Priorities Michael Greenstone, Director of the Energy Policy Institute at the University of Chicago, highlighted India’s low energy consumption and the health toll of air pollution, which cuts life expectancy by 3-5 years. He stressed the need for clear goals and market-driven solutions.

Collaborative Efforts for Climate Goals The forum underscored the importance of joint action by governments, financial institutions, and markets. Singh’s proposal for renewable energy financing obligations reflects the urgency of targeted strategies to meet India’s climate and energy goals.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..