Spotlight on innovation in non-solar areas in emerging green energy sector

Businesses built on renewable infrastructure are gaining traction but banks are still figuring out ways to finance them

The renewable pitch in India has moved from a rush to produce or use solar panels and green energy to plenty of innovations in other sectors related to green energy, particularly among small and medium enterprises (SMEs). “The next level growth avenue for all of us is the SMEs,” said Rajiv Anand, deputy MD, Axis Bank, at a banking conclave on the theme this week.

Since banks often do not understand if a project is genuinely in the renewables sector or is a case of “greenwashing” — decking up a project with light green standards — his preference is for