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India wants more renewables, but its banks are pouring billions into coal

India wants more renewables, but its banks are pouring billions into coal

Even as the Narendra Modi government pushes for renewable energy, Indian financiers are backing coal-based power projects. Around 73% of all funding in 2017 went towards coal-based plants, according to a study of 72 renewable and thermal power projects conducted by the Centre for Financial Accountability (CFA), a New Delhi-based non-profit. This is despite renewable…