Energy companies not facing any challenge in securing funding: Pradhan

TIL Desk/Business/New Delhi/ Indian energy companies are not facing any challenge in securing finances, Union Minister Dharmendra Pradhan said on Friday. There are reports that some of the sovereign funds, including Norway’s State Pension Fund, have decided not to invest or finance fossil fuel-based projects and businesses.

“There is no challenge…I have mentioned in speech that pension funds and other are keen,” the oil minister said at BNEF Summit here. He was replying to a question that whether Indian energy firms are facing any challenges in getting funding.

“India’s growing energy sector is attractive for foreign investors. It has repeatedly received funding from sovereign wealth funds, pension funds, long term strategic investors from western countries, Asian countries and Middle East,” the minister said.