Center to soon launch USD 2 billion clean energy fund to increase renewable energy capacity

The center is reportedly gearing up to launch two billion dollar clean energy fund with NTPCL, Rural Electrification Corporation (REC) and Power Finance Corporation Ltd to support the government’s ambitious target of adding 175 GW renewable energy generation capacity by 2022.

All India Radio (AIR) World Service citing a senior official said New and Renewable Energy Ministry has already processed the proposal and sent it to the Finance Ministry to initiate a 2 billion dollar clean energy equity fund to push renewable energy capacity addition as envisaged by the central government.

The official further said, initial seed funding will be done by the central government to set up this fund from the National Investment and Infrastructure Fund.

Over Rs. 12000 crore investments is expect to boost the renewable energy sector in the country.