The government on Saturday said that it has awarded grants to the four projects selected in the second round of PACEsetter fund program.
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, the Ministry of New and Renewable Energy (MNRE) said in a statement
The Ministry of New and Renewable Energy awarded Grants to the awardees of the second round of PACEsetter fund program in a ceremony organized yesterday. MNRE Secretary Anand Kumar and the US Ambassador to India Kenneth Ian Juster co-chaired the felicitation ceremony.
In the second round of awards, a total of 168 Expressions of Interest were received. Out of these, four projects were selected for award of grants. The awardees include Society for Economic and Social Studies, New Delhi, Customized Energy Solutions India Pvt Ltd, Pune, The Energy & Resources Institute (TERI), New Delhi and RaghavendraSuntech Systems Pvt Ltd (RSSPL), Bengaluru.
Stressing on the importance of access to energy for all, the US Ambassador said that innovation in off-grid and clean energy will improve energy access. Kumar appreciated the impact that the awarded projects would have on the common man. He also suggested that innovation realized through such projects could be replicated in other developing countries.