GEF Supports Renewable Energy Power Project in India
8 August 2012: The Global Environment Facility (GEF) will support a new solar technology project in India to tap its extensive solar energy potential using concentrating solar heat (CSH) technology systems.
The “Market Development and Promotion of Solar Concentrator based Process Heat Applications” project aims to strengthen capacities and remove financial barriers to enable more efficient use of CSH technologies and tackle India's rising industrial energy and heating demands, reduce CO2 emissions, conserve fuel, improve air quality, and promote energy independence.
The project will be implemented by the UN Development Programme (UNDP) and funded by a US$4.4 million grant from the GEF along with co-financing from the Indian government, industries and other financial institutions, for a total project budget of US$23.75 million. During the project's 20 year lifetime, direct emission reductions of 39,200 tons of carbon dioxide are expected as well as 315,000 tons of avoided emissions, saving 3.15 million liters of fuel oil per year.
The project's goals will be carried out through initiatives to strengthen technical capacities of manufacturers and consumers, support CSH demonstration and replication projects, and address financial roadblocks. [GEF Press Release]