2 billion dollar clean energy equity fund

Q.  Union Government in Nov 2016 decided to launch a USD 2 billion dollar clean energy equity fund. What is its target for renewable energy generation capacity by 2022?
- Published on 04 Nov 16

a. 175 GW
b. 185 GW
c. 176 GW
d. 186 GW

ANSWER: 175 GW
 
2 billion dollar clean energy equity fundUnion Government in Nov 2016 has taken the decision to launch USD 2 billion dollar clean energy equity fund.
  • The fund is being created to support the ambitious target of adding 175 GW renewable energy generation capacity by 2022.
  • Government has decided to launch the fund jointly with state power entities namely National Thermal Power Corporation Limited, Rural Electrification Corporation and Power Finance Corporation Limited.
  • The New and Renewable Energy Ministry has initiated this project.
  • Report also indicated that seed funding will be done by the Union government for this fund.
  • The funding will be from the National Investment and Infrastructure Fund.
  • Government of India will also collect 4 billion USD per year in the next 3-4 years for the clean energy fund.
  • Government of India is also planning a USD 1 billion dollar PE fund for the renewable energy sector.

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