: Financial support scheme launched to promote investment in renewable energy technologies #FinanceIndia #StockMarketNEWS Financial support scheme launched to promote investment in renewable energy technologies

@StockMarketNEWS Thu 12 Aug, 2021

Posted in: #FinanceIndia #StockMarketNEWS

Financial support scheme launched to promote investment in renewable energy technologies #FinanceIndia #StockMarketNEWS
Financial support scheme launched to promote investment in renewable energy technologies New Delhi, Aug 11 (KNN) Ministry of New and Renewable Energy (MNRE) in association with The United Nations Industrial Development Organization (UNIDO) and Global Environment Facility (GEF) on Tuesday launched the loan interest subvention scheme for demonstration of innovative industrial organic waste to energy bio-methanation projects and business models. A GIS-based inventory tool of organic waste streams was also unveiled.

The scheme will provide financial assistance to innovative waste-to-energy bio-methanation projects and business models. The industrial organic waste-to-energy bio-methanation projects are generally capital intensive and financially sensitive to both operating costs, including waste availability, and revenue, particularly biogas yield and its utilization scenario, the ministry said in a statement.

Innovations in such projects seek to improve overall energy output thereby minimizing the cost of energy generation but may lead to an increase in the initial project cost at the establishment stage yet increase revenue and reduce operating costs over project’s lifetime. The loan scheme provides financial assistance to beneficiaries to reduce the financial burden on account of interest on the loan component faced by such demonstration projects.

A GIS based inventory tool of organic waste streams developed under the GEF-MNRE-UNIDO project was also launched during the webinar. The tool provides district-level estimates of available urban and industrial organic wastes and their energy generation potential across India. The GIS tool will enable SME’s and project developers to set up new waste-to-energy projects and may facilitate the rapid growth of bio-methanation in the waste-to-energy sector in the country.

The webinar also showcased success stories of bio-methanation projects in India and was followed by a panel discussion on ‘Innovations in bio-methanation technology and business models – Key potential accelerator of waste-to-energy sector growth in India’ and sharing of experience on technology, business models, policies and regulatory framework and project financing to foster SME’s contribution in the sector in India.

At the event Dr René Van Berkel UNIDO Representative, Regional Office in India gave the welcome address. Dinesh Dayanand Jagdale Joint Secretary, Ministry of New & Renewable Energy gave the opening remarks and launched the Financial Support Scheme and the GIS tool for mapping organic waste availability.

Pradip Kumar Das Chairman & Managing Director, IREDA presented keynotes.

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