The National Bank for Agriculture and Rural Development (Nabard) Saturday signed an agreement with Green Climate Fund (GCF) to infuse $100 million into the project designed to unlock private sector initiatives for creation of rooftop solar power capacity across India.
The $250 million project, to be executed by Tata Cleantech Capital Ltd, will receive the GCF support through Nabard, which is the National Implementing Entity (NIE) for the UNFCC-promoted Fund that supports the efforts of developing countries to respond to the challenge of climate change, the bank said in a statement.
The agreement with GCF was signed at an event held on the sidelines of ongoing COP24 in Katowice, Poland, it said.
Notably, India, which hosts International Solar Alliance, has an ambitious vision of creating 100 gw solar power capacity it said, adding Nabard has been financing solar power projects and installations in various other programmes as well.
