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

Sushma U N
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…