New Delhi: The International Solar Alliance (ISA) has increased the viability gap funding for solar projects to 35% from 10% of the project cost, a move aimed at pushing renewable energy adoption and encouraging private sector participation in developing countries, especially in Africa.
“The alliance, through its viability gap funding mechanism, provides a grant of $150,000 or 10% of the project cost, whichever is lower, per country per project. The assembly decided to increase the range to 35% of the project cost,” power minister RK Singh, who is also the president of the alliance, said while addressing a press conference on the organisation’s sixth assembly here.
