New Delhi, Sep 25 (IANS) UNDP Global Environment Fund (UNDPGEF), an arm of UN Development Programme (UNDP) and Germany's KFW, have pledged to help India with implementing $39.15 million worth of biomass projects.
In an agreement signed Monday with the ministry of non-conventional energy sources (MNES), both bodies have agreed to support India in 'removing barriers in developing projects for harnessing biomass energy resources'.
The project document signed by MNES joint secretary Sunil Khatri and UNDP resident representative Maxine Olson sets out that the UNDPGEF would provide $5.65 million for the three-year project, with MNES contributing $5.24 million and KFW of Germany leveraging $24.82 million funds.
'The financial institutions/private entities who join the project would contribute $3.44 million' for the project, an official statement said.
The objective of the agreement is to remove barriers, ensure sustained supply of biomass, technology improvement, equipment supply and development of standards for biomass energy projects.
Experts have estimated that India has an established potential of about 19,000 MW while the co-generation power projects have a potential of about 5,000 MW.
So far over 1,000-MW capacity based on biomass and co-generation projects have been set up in India.