India 's banks are growing increasingly reluctant to extend loans to the country 's renewable energy sector , prompting the country 's finance minister to hold a meeting with stakeholders on 19 may . India 's renewable energy ministry recently wrote to major stakeholders reminding them that investments of $ 100bn are needed to install the 104 GW required to meet the country 's 2022 target of 1000 GW installed renewable power . However , Indian banks fear bad loans as a result of the recently introduced solar tariff cap of INR2.5 ( $ 1000 ) per unit as well as currency risks and the safeguard duty on solar technology investments .
India's banks are growing increasingly reluctant to extend loans to the country's renewable energy sector, prompting the country's power minister to hold a meeting with stakeholders on 19 September. India's renewable energy ministry recently wrote to major stakeholders reminding them that investments of $100bn are needed to install the 104 GW required to meet the government's 2022 target of 175 GW installed renewable power. However, Indian banks fear bad loans as a result of the recently introduced solar tariff cap of INR2.5 ($0.035) per unit as well as currency risks and the safeguard duty on solar technology imports.