Press Information Bureau

Government of India

Ministry of New and Renewable Energy

14-December-2012 17:04 IST

The Minister of New and Renewable Energy, Dr. Farooq Abdullah informed Lok Sabha today that the National Clean Energy Fund (NCEF) is created for funding research and innovative projects in clean energy technologies. Any project/scheme relating to innovative methods to adopt to clean energy technology and research & development shall be eligible for funding under the NCEF.

The total tax revenue generated through ‘Clean Energy Cess’ for NCEF was Rs1,066.45 crore (Actual) for the financial year 2010-11 and Rs 3,249.40 crore (Revised Estimates) for financial year 2011-12. In respect of the current financial year (2012-13), the budgetary estimates are of Rs. 3,864.20 crore.

Guidelines have been laid down for appraisal and approval of the projects/schemes eligible for financing under the Fund.

Fifteen projects envisaging total support of Rs 1,974.16 crore, out of the NCEF have already been recommended by the Inter-Ministerial Group (IMG) till date.

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UM/KM

National Clean Energy Fund established to finance research and innovative clean energy projects under prescribed appraisal and approval guidelines. Creation of a National Clean Energy Fund financed from the Clean Energy Cess to finance research and innovative clean energy projects; projects and schemes relating to innovative clean energy technology and research and development are eligible. Guidelines are prescribed for appraisal and approval of eligible projects, and an Inter-Ministerial Group has recommended projects for support under the Fund.