FCC

MNRE plans to raise over Rs.135 billion via Green Bonds in FY25

2024-08-06

The Ministry of New and Renewable Energy (MNRE) plans to raise over Rs.135 billion through green bonds for funding various renewable energy projects in the current financial year, ending March 2025.

According to the Union Budget for FY25, the statement for fund utilisation and allocation under schemes eligible for the Sovereign Green Bond (SGrB) proceeds shows that MNRE plans to raise Rs.135 billion.

While the budget estimate (BE) of Rs.135 billion for FY25 is higher by 80 per cent compared to the BE for FY24 Rs.75.07 billion), it is more than double compared to the revised estimate (RE) for the last fiscal year Rs.61.16 billion).

Of the total, the highest Rs.100 billion is being planned to be raised for investment in solar energy. This is followed by Rs.19.96 billion for PM KUSUM (rural solar scheme), Rs.9.3 billion for wind energy and Rs 6 billion for the national green hydrogen mission.

Overall, the various ministries and departments plan to raise a total of Rs.320 billion via SGrBs.