India Seeks Rs 32,000 Crore for Green Energy Projects Through Sovereign Green Bonds
Key Ideas
- Ministries in India are seeking Rs 32,000 crore for green energy and transit-development projects through sovereign green bonds.
- The Ministry of New and Renewable Energy is taking the lead in financing initiatives like the PM Kusum scheme and the National Green Hydrogen Mission.
- The funding requirements of Rs 32,061 crore have been proposed in the Budget estimates for 2024-25.
- The actual amount to be raised through the issuance of Sovereign Green Bonds in FY25 will be decided separately.
The Indian ministries have proposed a funding requirement of Rs 32,000 crore for green energy, energy transition, and transit-development projects through sovereign green bonds. The Ministry of New and Renewable Energy (MNRE) has submitted the largest share of this amount, intending to finance projects like the PM Kusum scheme and the National Green Hydrogen Mission. The Budget estimates for 2024-25 mention the proposed fund requirements, with the actual amount to be raised through Sovereign Green Bonds in the financial year 2025 to be decided separately. This initiative showcases India's commitment to investing in green energy and transitioning towards a more sustainable future.