India and United Kingdom have agreed to create a fund for developing renewable energy within this country. India’s renewable energy minister Dr Farooq Abdullah recently had a meeting with his counterpart of UK Greg Barker in New Delhi.
Both the ministers agreed that the proposed partnership fund should be created on an urgent basis to scale up the installation of renewable energy technology in a cost effective and efficient manner in India.
Barker emphasised on private investment in addition to govt funding to promote renewables. “India should consider tapping funding from Capital Market Climate Initiative by proposing MW scale pilot projects,” he further suggested.
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