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The green growth is disseminated through access to green finance. Government executed many instruments for financial support, to bridge the financial gap between green growth and green projects. The private sectors were also spotted for providing finance in this field. In spite of this there are barriers to access green finance. The aim of this research is to understand the barriers faced by the industry in accessing finance for improving energy efficiency. Also, to understand the experience of the Steel and Cement sector after the introduction of the PAT scheme, to access to finance and improvement in energy consumption. This research is based on secondary review of literatures. To analyze the experience of steel and cement sector few interviews were also taken as primary part of this research paper.
The major six sources and six barriers to access the finance are listed. Among these, major barrier transpire as policy and regulatory insecurities. This comes off as a center to all other barriers. The experience of steel and cement sector are analysed by forming metrics; EBITDA to net sales, power and fuel to operating expenses and debt to equity metric. The key finding post analysis is that large scale companies are doing well in terms of financial status, but still face barriers to access finance for energy efficiency initiatives. This is because of strict mandates for private companies to access finance. So the findings suggest that there should be a good correlation between the proper implementation of government policies and access to finance. Hence, modifications in regulations by government are recommended for smooth access to green finance.
Key words: Green finance, Energy Efficiency, Barriers to Access, Steel Sector, Cement Sector
