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MNRE launches interest subvention scheme

Wednesday, 11 Aug 2021
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The Ministry of New and Renewable Energy (MNRE) has launched a loan interest subvention scheme in association with the United Nations Industrial Development Organisation (UNIDO) and Global Environment Facility (GEF) to provide financial assistance for innovative waste to energy bio-methanation projects.

The industrial organic waste-to-energy bio-methanation projects are generally capital intensive and financially sensitive to both operating costs, including waste availability and revenue, particularly biogas yield and its utilisation scenario.

UNIDO and MNRE launched the Global Environment Facility (GEF)-funded loan interest subvention scheme that provides financial assistance to innovative waste-to-energy bio-methanation projects and business models.

The loan scheme provides financial assistance to beneficiaries to reduce the financial burden on account of interest on the loan component faced by such demonstration projects.

A GIS-based inventory tool of organic waste streams developed under the GEF-MNRE-UNIDO project was also launched during a webinar. The tool provides district level estimates of available urban and industrial organic wastes and their energy generation potential across India.

The tool will enable SMEs and project developers to set up new waste-to- energy projects and may facilitate the rapid growth of bio-methanation in the waste-to-energy sector in the country.

 
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