MNRE invites proposal for availing Green Climate Fund (GCF) support in renewable energy areas

The Ministry of New and Renewable Energy (MNRE) has invited proposals from State governments, industry, developers, electrical utilities, private and public institutions, international agencies and other stakeholders for availing Green Climate Fund (GCF) support in renewable energy areas.

MNRE in a statement said proposals shall have potential to deliver transformative impact on climate change mitigation through accelerated deployment of renewable energy in India.

GCF is a United Nations (UN) mechanism set up under the UN Framework Convention on Climate Change (UNFCCC) to support and finance developing countries in their efforts on extenuation and adaptation.

The ministry notes that both public and private entities can access GCF support with Government of India approval. Being central to climate change mitigation renewable energy projects are best suited for availing GCF support. Accordingly, in line with India’s Intended Nationally Determined Contributions (INDCs) under UNFCCC, the MNRE has plans to avail GCF resources to supplement domestic resources for accelerating development and deployment of renewable energy in the country.

The evaluation criteria of GCF for supporting the projects include: a) Climate impact potential; b) Paradigm shift potential (Potential to catalyze impact beyond a one-off project or programme investment); c) Sustainable development potential; and d) Effectiveness and efficiency (Economic and financial soundness and effectiveness of the proposed activities).

The Project Concept Note in the prescribed format can by submitted by 24 June 2016.

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