Wednesday, February 4, 2015 South Asia
Source: The Economic Times
Shell Foundation, an independent charity set up by Anglo-Dutch energy group Shell, plans to allocate about half of its $150 million deployable funds in India's clean energy sector over the next five years, a top official said. The foundation may not invest the funds directly into projects but in for-profit companies or financial institutes, which will in turn invest in solutions to make cheap energy options accessible in rural and urban poor areas. "We want to take a marketbased approach where we can fund or forward grants to companies who are directly or indirectly providing the bottom of the pyramid with access to energy," said Pradeep Pursnani, deputy director-chief operating officer at Shell Foundation.