National Clean Energy Fund
The National Clean Energy Fund (NCEF) is a fund created in 2010-11 using the carbon tax - clean energy cess - for funding research and innovative projects in clean energy technologies of public sector or private sector entities, upto the extent of 40% of the total project cost. Assistance is available as a loan or as a viability gap funding, as deemed fit by the Inter-Ministerial group, which decides on the merits of such projects.
The Fund is designed as a non lapsable fund under Public Accounts and with its secretariat in Plan Finance II Division, Department of Expenditure, Ministry of Finance
An Inter Ministerial Group (IMG) chaired by Finance Secretary approves
the projects/schemes eligible for financing under the NCEF.
These projects include innovative schemes like Green Energy Corridor for boosting up the transmission sector, Jawaharlal Nehru National Solar Mission (JNNSM)'s installation of solar photovoltaic (SPV) lights and small capacity lights, installation of SPV water pumping systems, SPV Power Plants, Grid Connected Rooftop SPV Power Plants, pilot project to assess wind power potential etc.