Govt plans $400 million fund for renewable energy firms – Feedback

The government is shifting up gears for renewable energy promotion with a clutch of policy measures to be rolled out soon. These are meant to protect clean energy producers from payment delays by distribution firms, and the latter from the eroding market for conventional grid-connected power due to wider adoption of roof-top solar power generation, a government official said.

New and renewable energy secretary Upendra Tripathy told reporters on the sidelines of the Renewable Energy India Expo in Greater Noida that the government is in the process of instituting a $400 million?(over Rs.2,600 crore) fund sourced from World Bank that will be used to protect clean energy producers from payment delays by distribution firms. Tripathy said the government was also exploring the possibility of setting up a scheme that will compensate power distribution companies (discoms) that lose a part of their market for conventional power from the grid due to the increased adoption of rooftop solar power projects by institutions and households.

http://www.livemint.com/Industry/OluQWzAFakaOWRlo5UjhxI/Govt-plans-400-million-fund-for-renewable-energy-firms.html

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