The National Bank for Agriculture and Rural Development (NABARD) has signed an agreement with Green Climate Fund (GCF) to infuse $100 million into a project to enhance private sector initiatives for creating rooftop solar power capacity across India.
The $250 million project, to be executed by Tata Cleantech Capital, will receive the GCF support through NABARD, which is the National Implementing Entity (NIE) for the UNFCC-promoted Fund.
Shankar A Pande, chief general manager, NABARD signed the agreement with GCF in the presence of A K Mehta, additional secretary, Ministry of Environment, Forests and Climate Change (MoEFCC) at an event held on the sidelines of ongoing COP24 in Katowice, Poland.
India, which hosts International Solar Alliance, aims to create 100 gw solar power capacity. NABARD, which has been financing solar power projects, has installations in various other programs as well.