staina ilit and limate han e ndia and he orld 19.13
The overall aim of the fund is to support concrete renewable capacity expansion programme in the
adaptation activities that reduce the adverse effects world.
of climate change facing communities, sectors Major highlights regarding it are as given below:
and states but are not covered under the ongoing
(i) Renewable energy capacity target has
schemes of state and central governments. The
been increased to 175GW by the year
adaptation projects contribute towards reducing
2022, out of which 100GW is to be from
the risk of vulnerability at community and sector
solar, 60 GW from wind, 10 GW from
biomass and 5 GW from small hydro
coAl cess AnD the nAtionAl cleAn energy funD power projects.
(ii) The First RE-INVEST (Renewable Energy
India is one of the few countries around the world
Global Investment Promotion Meet and
to have a carbon tax in the form of a cess on coal.
Expo) were organized in February 2015
Not only has India imposed such a cess but it has
to provide a platform for the global
also been progressively increasing it (form Rs. 50
per tonne of 2010 to Rs. 200 by 2015–16 and investment community to connect with
Rs. 400 by 2016-17). The NCEF (National Clean stakeholders in India.
Energy Fund) which is supported by the cess on The objective of the RE-INVEST series of
coal was created for the purposes of financing conference expos is to showcase India’s renewable
and promoting clean energy initiatives, funding energy potential and the government’s efforts
research in the area of clean energy and for any to develop and scale up the country’s installed
other related activities. renewable energy capacity to meet the national
energy requirement in a socially, economically
Perform Achieve AnD trADe and ecologically sustainable manner. A total of
The PAT (Perform Achieve and Trade) scheme 273,000 MW green commitments, including
under the National Mission on Enhanced Energy 62,000 MW of renewable manufacturing, were
Efficiency was introduced as an instrument received in the event.
for reducing specific energy consumption in (i) The ISA (International Solar Agency) was
energy-intensive industries with a market-based launched by India at COP 21 in Paris in
mechanism that allowed the trading of ESCerts December 2015. The ISA will provide a
(energy saving certificates). The ESCerts, issued by special platform for mutual cooperation
the GoI, are traded through the power exchanges among 121 solar-resource-rich countries
in the country. lying fully or partially between the Tropic
of Cancer and Tropic of Capricorn. The
reneWAble energy Secretariat of the ISA will be hosted by
For India, renewable energy has become a major India.
focus area. The GoI has set an ambitious target of (ii) Development of Solar Cities Programme
achieving 40 per cent cumulative electric capacity is another ambitious scheme of India.
from non-fossil fuel-based energy resources by Under it 56 solar cities projects have been
2030. India is currently undertaking the largest approved.