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National Rural and Renewable Energy Programme (NRREP)
Subsidy (output based) Biogas Credit Fund (BCF)- Wholesale lending to partner institutions of AEPC (cooperatives, financial intermediary NGOS, Microfinance development banks, community forest users committees) Micro-hydro Debt Fund Support for Carbon Finance Risk insurance mechanims (Through Central Renewable Energy Fund-CREF, USD 113.5 million)
Danida, DFID, NORAD, KfW, SNV, UNDP, ADB, WB/ AEPC
The program is to reduce dependency on traditional energy and attain sustainable development through integrating the alternative energy with the socioeconomic activities in rural communities. The immediate objective of the Central Renewable Energy Fund (CREF) Component is to institute the CREF as the core financial institution responsible for the effective delivery of subsidies and credit support to the renewable energy sector.
Description of the RBF Scheme:
Contingent finance disbursed to the project upon underperformance of a renewable energy technology and where such risk is not commercially insurable at reasonable costs or has occurred beyond the period for which commercial insurance is available.
Innovative Finance For Renewable Energy Solutions