Mr. Goyal had said during the ‘talkathon’ events on the Paris conference that, “They are planning a USD 1 billion private equity fund for renewable energy sector initially seeded by government companies.

 Centre, along with state-run power entities NTPC, REC and PFC will launch USD 2 billion clean energy Equity Fund soon to support the government’s ambitious target of adding 175 GW Renewable Energy generation capacity by 2022.

A senior official in the know said that, “New and Renewable Energy Ministry has already processed the proposal and also send it to the Finance Ministry to initiate a USD 2 billion clean energy equity funds to push renewable energy capacity addition envisaged by the central government.”

As per him, “the funds will be launched soon, within this fiscal, as all the spadework has been completed by the new Renewable Energy Ministry after discussing it at a length with NTPC ltd, Power Finance Corp (PFC) and rural electrification Corp (REC).”

Ahead of the Paris climate talks in November last year, Coal, Power, New and Renewable Energy Minister Mr. Piyush Goyal had said that the is planning a USD 1 billion private equity fund for the Renewable Energy Sector.

Mr. Goyal had said during the ‘talkathon’ events on the Paris conference that, “ They are planning a USD 1  billion private equity fund for renewable energy sector initially seeded by government companies.

He also said that, “The government is also seeking to collect USD 4 billion per year in the next 3-4 years for a clean energy fund.”

“Initial seed funding will be done by the central government to set up this fund from the National Investment and infrastructure Fund” the officials concluded

The state-run NTPC, REC and PFC will also pitch in to create the fund.

The post Govt, 3 PSUs to set up $ 2 billion equity fund for renewables appeared first on Mcr World.