In an effort to foster transnational cooperation around sustainability programs, in November last year, India and the United Kingdom agreed to set up a fund for developing renewable energies in the Indian subcontinent. The fund, formally created after a meeting between India’s renewable energy minister Farooq Abdullah and his British counterpart Greg Barker in Delhi, aims at encouraging the installation of green power technology, with a focus on cost efficiency.
Though a few solar hybrid pilot projects are already underway, the fund will be fuelling sector with additional rive, for the benefit of all. The proposed program is actually not the first initiative sponsored by British stakeholders in the country. The Foreign & Commonwealth Office’s Prosperity Fund India program has been promoting sustainable development initiatives for several years.
With 38 ongoing projects and 5 tactical activities focused on low carbon growth funded as of now, the Prosperity Fund India has become a strong motor promoting sustainable development. The impending set-up of Fund for Renewable Energy is expected to mark a further step forward in India-UK cooperation.
Though a few solar hybrid pilot projects are already underway, the fund will be fuelling sector with additional rive, for the benefit of all. The proposed program is actually not the first initiative sponsored by British stakeholders in the country. The Foreign & Commonwealth Office’s Prosperity Fund India program has been promoting sustainable development initiatives for several years.
With 38 ongoing projects and 5 tactical activities focused on low carbon growth funded as of now, the Prosperity Fund India has become a strong motor promoting sustainable development. The impending set-up of Fund for Renewable Energy is expected to mark a further step forward in India-UK cooperation.
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