PACEsetter Fund Programme
Posted on : 25 Dec 2019Views: 1045
- Ministry of New and Renewable Energy recently awarded grants to four projects in second round of PACEsetter Fund programme.
- The PACEsetter fund was constituted by India and the USA in 2015 as a joint fund to provide early-stage grant funding to accelerate the commercialization of innovative off-grid clean energy products, systems, and business models.
- It is a fund to support the “Promoting Energy Access through Clean Energy” (PEACE) tracks of the US-INDIA partnership to Advance Clean Energy (PACE).
- The mission of the PACEsetter Fund is to accelerate the commercialization of innovative off-grid clean energy access solutions by providing early-stage grant funding that would allow businesses to develop and test innovative products, business models and systems. The Fund's main purpose is to improve the viability of off-grid renewable energy businesses that sell small scale (under 1 megawatt) clean energy systems to individuals and communities without access to grid connected power or with limited/intermittent access (less than 8 hours per day).
- The bi-national Indo-US Science and Technology Forum (IUSSTF), New Delhi, India is the Administrator of the Fund.
- The Fund awards grants for direct support of innovative technology, business models, and programs including but not limited to: rural energy services companies (full scale integrated operators); rural distribution companies/franchisees; operations/maintenance companies; technology implementers/ system integrators; and enterprises.
Article Related Questions
Ministry of New and Renewable energy recently awarded grants to four projects in second round of PACEsetter Fund programme. In this context, consider the following statements
1.It is an Indo-US joint fund to accelerate the commercialization of innovative off-grid clean energy.
2.The grants for direct support of innovative technology under the Fund are limited to rural energy services companies and rural distribution companies.
Which of the above statements is/are correct?
3.Both 1 and 2
4.Neither 1 nor 2
Right Ans : 1 only