Union Government to set up Solar Development Fund (SDF) for financing solar projects

The Government of India (GoI) will set up a $350 million Solar Development Fund (SDF) for financing solar projects to achieve its ambitious target of adding 175 Giga Watts (GW) in renewable energy by 2022. 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. The WFES was organized by the International Solar Alliance (ISA) in Abu Dhabi (UAE). The ISA is an alliance of sunshine-rich countries set up jointly by India and France on the sidelines of the historic Paris meeting on climate change in November 2015. So far, 19 countries have ratified and 48 signed the ISA Framework Agreement.