India, US invest $8 mn for off-grid clean energy fund

New Delhi, Aug 21 (IANS) Aiming at accelerating the commercialisation of innovative off-grid clean energy solutions, India and US on Friday announced an investment of $8 million in the PACEsetter Fund.

The PACEsetter Fund is the principal funding arm of Promoting Energy Access through Clean Energy – an initiative of the Indian and US governments to harness commercial enterprise and bring clean energy access to unserved and underserved individuals and communities.

The announcement was made by US Ambassador Richard Verma and New and Renewable Energy Secretary Upendra Tripathy on the sidelines of an event hosted by The Climate Group (TCG) – an international non-profit organisation working towards achieving a low carbon future.

“Off-grid energy business models not only have the potential to connect millions of people in India, South Asia and other parts of the world to clean electricity, but also provide them with a platform for moving out of poverty while avoiding the carbon emissions associated with conventional development models,” TCG’s CEO Mark Kenber said in a statement.

TCG’s India director Krishnan Pallassana said usage of renewable energy will help create a “low-carbon, prosperous future with health, social and economic benefits for all”.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here