According to third annual Coal vs Renewable Financial Analysis 2019, public funding for coal power projects in India has declined for a second consecutive year.
The report, prepared by Centre for Financial Accountability (CFA) and Climate Trends, looked at 50 project finance loans across 43 coal-fired and renewable energy projects in India. Reportedly, there was a 126 per cent drop in funding from commercial banks to coal compared to 2019, following a 90 per cent decrease in 2018 over the previous year. Lending to renewable energy projects saw a minor contraction of 6 per cent year-on-year, and received 95 per cent of the total lending to energy projects.