GEF-UNIDO Launches Project ‘Promoting Business Models for Increasing Penetration and Scaling up of Solar Energy’

By 121 News

Chandigarh 20^th January:- Global Environment Facility and United Nations Industrial Development Organization (GEF-UNIDO) in partnership with the Ministry of New and Renewable Energy (MNRE) have launched the project 'Promoting business models for increasing penetration and scaling up of solar energy' with an aim to promote investment in CST technologies for industrial applications in the country. It is especially designed to complement MNRE's CST programme by helping to remove barriers associated with adoption of CST technologies by spreading awareness, building capacity and providing financing solutions.

In 2014-15, industrial sector alone consumed 42 percent of the crude oil imported that year. Use of solar energy applications focused for industrial sectors presents a significant opportunity for the country to address growing concerns of energy security and reduce carbon emissions. Concentrated Solar Thermal (CST) technologies are amply suited for heating and cooling applications for industrial processes.

Availability of financing to the owners of small or big industrial units plays a vital role in their successful transition towards renewable energy. Given the size of the market and the opportunities it presents, the GEF-UNIDO-MNRE project is preparing an innovative financial scheme to provide a single window system for accessing financial assistance. Indian Renewable Energy Development Agency (IREDA), as the fund manager to the project, would support the beneficiaries by bundling the MNRE's subsidy and the loan at sub-vented interest, thereby providing access to 75% of project cost for application of these technologies.

A series of six awareness generation workshops are being organized in six states of India namely Uttarakhand, Himachal Pradesh, Madhya Pradesh, Karnataka, Bangalore and Tamil Nadu to spread awareness about the benefits of CST application and the support provided by GEF-UNIDO-MNRE project. The first workshop held in Haridwar on 12 January saw widespread participation from the industries present in Uttarakhand. Continuing with this initiative, the second workshop is scheduled to begin at 10:00 hrs on 21 January 2016 at Hotel Le Mariet in Baddi, Himachal Pradesh.

The workshop is being jointly organized by GEF-UNIDO and MNRE in close cooperation with Himachal Pradesh Energy Development Agency (HIMURJA). The Confederation of Indian Industry (CII) is providing the logistics support to UNIDO for the workshop.