<article>The Indian government is planning to set up a big-budget $1-billion private equity fund focussed on investing into the renewable energy space.</article>

The Indian government is planning to set up a big-budget $1-billion private equity fund focussed on investing into the renewable energy space.
This was announced by union power and coal minister Piyush Goyal at an event ahead of the Paris climate talks that begin on Monday.
Indian public sector companies will provide seed capital for the proposed mega fund for green energy.
“We are planning a $1 billion dollar private equity fund for renewable energy sector, initially seeded by government companies,” Goyal said, according to a PTI article.
He further said the government is also seeking to raise $4 billion per year through cess in the next three-four years for a clean energy fund.
On the government&#8217;s clean energy initiatives, he said, India was looking at meeting its 175,000 MW renewable energy target by 2022.
He also added the government has received a funding of one billion euros from Germany for developing a Green Energy Corridor, the article said.
Incidentally, India is also going to be a founding beneficiary of a multi-billion-dollar clean energy research and development initiative that Microsoft co-founder Bill Gates will launch at the Paris climate summit.
India is seeing multi-tiered investment action in the renewable space from industry players, private equity as also development finance institutions.
In some recent developments in the renewables space, <a style="color: #000080;" href="http://www.adb.org" target="_blank">ADB</a> said, it will lend $200 million to the <a style="color: #000080;" href="http://www.ireda.gov.in" target="_blank">Indian Renewable Energy Development Agency (IREDA)</a> to support renewable energy projects in India. Similarly, World Bank arm <a style="color: #000080;" href="http://www.ifc.org" target="_blank">IFC</a> partnered with PTC India Financial Services Ltd (PFS) and IREDA to provide infrastructure financing for renewable energy projects in India.
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The Indian government is planning to set up a big-budget $1-billion private equity fund focussed on investing into the renewable energy space.

India mulls $1b private equity fund for clean energy

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India mulls $1b private equity fund for clean energy

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