PNB to finance solar power

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Punjab National Bank Hyderabad circle office has organised a workshop on financing of rooftop solar power projects. The meeting was presided over by Rajeev Puri, DGM – circle head.

Anand Agarwal, AGM, PNB HO division, New Delhi, addressed the meeting and informed participants about the new scheme for financing of grid-connected rooftop PV solar power projects for commercial, industrial, MSME and profit-making institutions under Capex and Resco business models.

He also informed that the government has recently scaled up the budget allocated from Rs 600 crore to Rs 5,000 crore for implementation of grid connected rooftops systems over a period of five years up to 2019-20 under National Solar Mission. The increased budget is expected to support the installation of 40,000 mw solar rooftop systems in the country in the next five years.