RBI Relaxes External Commercial Borrowing Norms to Benefit Solar & Wind Companies
RBI has relaxed the end-use stipulations which will allow borrowers to raise external commercial borrowings for the repayment of rupee loans
November 25, 2019
Follow Mercom India on WhatsApp for exclusive updates on clean energy news and insights
In January 2019, National Solar Energy Federation of India (NSEFI) wrote to the Reserve Bank of India (RBI) to carve out a special category to allow External Commercial Borrowings (ECB) of an average maturity period of at least five years within the new merged foreign currency ECB category that will allow solar and wind project developers to repay their rupee loans to domestic lenders from ECB proceeds.