The objective of the project is to support renewable energy financing through the Renewable Energy Financing Scheme, established by Canara Bank. This financing scheme will help advance the Government of India’s initiative in the renewable energy sector. The loan provided by NDB will be on-lent through Canara Bank to renewable energy sub-projects, including wind, solar, small hydropower, biomass, geo-thermal, waste-to-energy, and other renewable energy projects.
The project will help provide more liquidity for long term financing to on-lend to renewable energy projects. It will also enhance institutional capacity of Canara Bank to scale up lending for sustainable development in the energy sector.