The RBI’s priority sector lending policy, which limits loans to Rs 30 crore, isn’t aiding real estate enterprises. Faster completion of the bidding process until a power purchase agreement is finalized with the shortlisted developers. Adherence to renewable purchase obligations among states needs to be higher. Local manufacturing (wind and solar) will be ramped up to compete with global giants on quality.
Industry asks:
1. Promote green financing to enable sustainability-linked funds.
2. Encourage collaboration between academics and business on cleantech manufacturing.
3. Assist in enabling world-class products through periodic changes to standards, testing, and certification of new products.