MNRE to seek firm investment commitments at RE-Invest 2024 for clean energy target
The Ministry of New and Renewable Energy (MNRE) will seek firm investment commitments, or “shapath patras,” from banks, financial institutions, private companies, and state governments at the upcoming RE-Invest event in Gandhinagar, Gujarat, next week.
Union Minister Pralhad Joshi announced today that the ministry has requested banks and financial institutions to provide specific commitment letters for investments in renewable energy over the next five years. This initiative is part of India’s goal of achieving 500 GW of clean energy capacity by 2030, which will require investments of around Rs 30 trillion.
Public and private sector banks are being asked to outline their plans to finance renewable projects, while private companies are also expected to submit shapath patras detailing their investment commitments.