India to Provide Funds for Energy Efficiency Industry

THE Indian Government is to provide incentives to the emerging energy efficiency industry through the National Mission for Enhanced Energy Efficiency (NMEEE).  

Two funds are being set up, the Partial Risk Guarantee Fund and the Venture Capital Fund, to provide financial incentives to drive forward the energy efficiency industry.  

Ajay Mathur, Director General of Bureau of Energy Efficiency (BEE), "Both these instruments are ensuring public money towards energy efficiency."

"Many banks are not ready to pay loans for companies in energy efficiency sector because the risk has not been evaluated."

BEE is the organisation that has been mandated to implement the programme, and have asked the Indian Government to lower excise duty on energy efficient equipment.

Picture: India Sunrise on the holy Ganges - Varanasi by babasteve

Tuesday 28th June 2011

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