MNRE clarifies: No advisory to banks to stop renewable energy lending

• India's MNRE denies issuing any advisory to banks to stop lending to renewable energy projects or equipment manufacturers.
• MNRE shared data on domestic solar PV manufacturing capacities with financial institutions (DFS, PFC, REC, IREDA).
• The data sharing aims to guide lenders to adopt a "calibrated and well-informed approach" and expand financing to upstream solar PV manufacturing stages like cells and polysilicon, not just modules.
• India has achieved 50% non-fossil fuel electricity capacity ahead of its Paris Agreement target, with 259 GW installed as of Oct 2025.
• India targets 500 GW non-fossil fuel capacity by 2030 and aims for self-reliance in solar PV manufacturing, with module capacity growing from 2.3 GW in 2014 to 122 GW.

Why It Matters: India clarifies renewable energy financing, guiding banks to upstream solar manufacturing.