Solar Projects: Yes Bank to Mobilise USD 1 Billion by 2023 for Clean Energy

Yes Bank made at the the announcement at the International Solar Alliance (ISA) conference organised at World Future Energy Summit 2018 in Abu Dhabi.

In a significant development, Yes Bank, India’s fifth largest private sector bank, said it will mobilise USD 1 billion by 2023 for financing solar energy projects in India.

The announcement was made at the International Solar Alliance (ISA) conference organised at World Future Energy Summit 2018 in Abu Dhabi.

According to the company statement, the bank said it made an announcement for “mobilising USD 1 billion till 2023 and USD 5 billion till 2030 towards financing solar energy projects in India”.

This significant announcement is part of YES BANK’s commitment to support ISA’s vision of creating a robust eco-system for solar energy globally and the Government of India’s target of achieving 100 GW of solar energy by 2022.

Yes Bank also signed five solar energy co-financing Letters of Intent with Tata Power Delhi Distribution, Hero Future Energy, Greenko Group, Amplus Solar and Jakson Group for their solar projects in India to be completed by 2023.

Rana Kapoor, Managing Director & CEO, YES BANK and Chairman, YES Global Institute, said, “India has taken a leadership position in Climate financing and ISA is a decisive step in augmenting this further. I am confident that such sustained faith and trust of global institutions on YES BANK’s proven Renewable Energy credentials with a demonstrated track record have enabled us to pursue achievement of our twin targets of financing 5 GW of Renewable Energy, and mobilising USD 5 Billion for Climate Finance by 2020”.