PACEsetter Fund programme

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News:The Ministry of New and Renewable Energy has awarded Grants to the awardees of the second round of PACEsetter fund programme.

Facts:

About the programme:

  • The PACEsetter fund was constituted by India and the USA in 2015.
  • It is a joint fund to provide early-stage grant funding to accelerate the commercialization of innovative off-grid clean energy products, systems, and business models.
  • The funds aim is to improve the viability of the off-grid renewable energy businesses that sell small scale (under 1 megawatt) clean energy systems to individuals and communities without access to grid connected power or with limited/intermittent access.