$2.5 Million Initiative to Support Clean Energy-Based Livelihood Solutions in Tamil Nadu
The Council on Energy, Environment and Water (CEEW) and social enterprise incubator Villgro Innovation Foundation have jointly launched a $2.5 million initiative to support at least five enterprises in Tamil Nadu that are deploying innovative, clean energy-powered livelihood appliances.
The initiative, named ‘Powering Livelihoods’, will enable the selected enterprises to undertake large-scale commercial deployments over the next three years. The initiative will offer grant support of up to $250,000 to each enterprise to help them kick-off the commercial deployment of their product/appliance and to allow financial leverage for further fund raising in the form of equity/debt.
Based on needs assessment, enterprises will also be provided support services (up to $100,000) through strategic partnerships. This includes mentoring, capacity building, financial planning and modelling, and assistance on compliance and legal issues, with an end-goal to scale up commercial deployment.
Photo courtesy of Christopher Herwig.
Source: The Hindu (link opens in a new window)