Oil PSUs to contribute to International Solar Alliance’s corpus fund

Five state-run oil and natural gas PSUs will become corporate partners of the International Solar Alliance (ISA) and will contribute to ISA’s corpus fund, Union petroleum minister Dharmendra Pradhan said on Tuesday. It is not immediately clear how much these oil companies would contribute to the ISA fund, but PSUs like NTPC, PGCIL, REC, PFC, CIL and PFC had earlier contributed $1 million each to this corpus.

Pradhan said the energy PSUs will be focusing more on green energy investments such as renewables, biofuels and hydrogen going forward.