Union Ministry of New and Renewable Energy Issues Statement

NEW DELHI: The Ministry of New and Renewable Energy (MNRE) clarified it has not instructed lenders to halt financing for renewable energy projects despite concerns about excess solar manufacturing capacity. Instead, it shared domestic solar manufacturing status with financial institutions to guide informed investment decisions. India has achieved 50% of its electricity capacity from non-fossil fuels, surpassing its Paris Agreement targets, with a current non-fossil fuel capacity of 259 GW. The government remains committed to enhancing solar PV manufacturing and fostering future growth in the sector through continued policy support and infrastructure development.

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