Read a piece from M Ramesh at BusinessLine – essentially, there is optimism that cheap finance might be available for renewable energy projects bigtime because a number of climate funds are getting committed for.
While many of the numbers being quoted as amounts committed are big (everything is in $100s of billion), I am not sure how much they will really transpire.
Even assuming they do, how much does the Indian renewable energy industry stand to gain? The news item quotes UB Reddy from the wind industry saying he expects easier equity while Anil Sardana of Tata Power expects significant portions from these funds to flow low carbon development in developing countries.
Let’s indeed hope that optimism from both fronts works out – from actually having the money flowing in, instead of just getting committed, and second, some of that money flowing to India.
Because countries like India having high lending rates need easier and cheaper finance more than anyone else.