Centre to allot $ 350 million for solar power development | Current Affairs, Current Affairs 2019

Centre to allot $ 350 million for solar power development

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The Union government is planning to set up a $ 350 million fund for financing solar projects through the count. This announcement was made by Minister of State (Independent Charge) for Power and Renewable Energy, Raj Kumar Singh.
Speaking at during an event in Abu Dhabi (UAE), he said that International Solar Alliance (ISA) shall help mobilize sufficient funds for solar energy projects.
Also speaking at the event, Interim Director General of ISA, Upendra Tripathy, said that over 100 projects shall be signed by April 2018 under ISA umbrella.
During the event, country’s top private bank, YES Bank committed to finance solar projects of over $5 billion. CLP and NTPC Limited also announced a partnership deal with ISA and committed to make voluntary contribution of $1 million each to ISA fund corpus.

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