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The government is going to set up a $350 million fund for financing solar projects. This announcement was made by Minister of State (Independent Charge) for Power and Renewable Energy, Raj Kumar Singh, during the Future World Energy Summit (WFES) 2018 in Abu Dhabi (UAE) on Wednesday.
Speaking at the International Solar Alliance (ISA) forum, Singh said that the ISA will help mobilise sufficient funds for solar energy projects.
Interim Director-General of ISA, Upendra Tripathy, said that over 100 projects will be signed by April 2018 under the ISA umbrella.
During the event, YES Bank committed to finance solar projects of over $5 billion. CLP and NTPC also announced a partnership deal with the ISA and committed to make a voluntary contribution of $1 million each to the ISA fund corpus.
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