Terming as priority the promotion of clean and green energy, Finance Minister P Chidambaram Thursday announced a scheme for making of renewable energy cheaper by providing for low interest bearing funds.
He also proposed a scheme to encourage cities and municipalities to encourage waste-to-energy projects in PPP mode.
“Clean and green energy is a priority of the government. However, despite cost advantage in labour, land and construction, consumer pays a high price for renewable energy. One of the reasons is high cost of finance,” Chidambaram said in his Budget speech in Lok Sabha.
The low interest bearing funds provided by the National Clean Energy Fund (NCEF) will be given to the Indian Renewable Energy Development Agency (IREDA) for five years.
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