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India and UK Agree to set up Partnership fund for Pro-poor Renewables on Priority basis

Minister of State for Energy and Climate Change of U.K. Shri Greg Barker met Minister of New & Renewable Energy Dr. Farooq Abdullah in New Delhi today. Both the Ministers were accompanied by high level delegations. There was a detailed discussion between the two sides on cooperation in the field of Renewable Energy. Dr. Abdullah explained various initiatives being taken by India in the field of Renewable Energy.

Both the Ministers agreed that the proposed Partnership Fund for pro-poor Renewables should be set up on priority basis to scale up installation of renewable energy technology in a cost effective and efficient manner. The visiting Minister emphasized need for private investment in addition to Government funds to promote Renewables. He also suggested that India should consider tapping funding from Capital Market Climate Initiative by proposing MW scale pilot projects. Dr. Abdullah suggested certain MW scale solar hybrid pilot projects. Dr. Abdullah thanked U.K. for providing technical support for the proposed Bio Energy Mission and requested for continued support as and when the Mission becomes operational.

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