2020-02-13 / HFE Team
Banking and NBFC crisis impeding credit flow for renewable energy sector
The ongoing crisis in the banking system and the non-banking financial companies (NBFCs) is impacting the growth of the energy sector impeding credit flow for projects, according to chief executive officers (CEOs) and other senior executives of companies operating in the green energy space.
"Since there is a growing demand of renewable energy, the current economic slowdown has not impacted the sector in general but, post default by the IL&FS group, there is severe liquidity crunch in the market for funding of large scale projects,” Sunil Jain, CEO,Hero Future Energies, among the largest independent power producers in the space, told ETEnergyworld.
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