SIDBI Extends Decarbonisation Challenge Fund Deadline To Jan 15

New Delhi, Jan 8 (KNN) Small Industrial Development Bank of India (SIDBI) has extended the deadline of registration under the Decarbonisation Challenge Fund (DCF) Window – 1 to 15 January, 2024.

The DCF is an initiative taken by SIDBI to promote the adoption of renewable energy in Micro, Small and Medium Enterprises (MSMEs) through crowd-sourcing innovative ideas from different parts of the country to tackle the issue of Climate Change.

The Fund is designed to provide financial assistance to village entrepreneurs, MSMEs, nonprofit organisations and educational institutions dedicated to developing sustainable and efficient technologies addressing climate change.

There are different themes mentioned by SIDBI under the fund including Renewable Energy, Energy Efficiency, Clean Transportation, Pollution Prevention and Control and Green Buildings.

DCF seeks impact-driven projects or ideas that primarily tackle issues at the grassroots level, focusing on village-level enterprises, microenterprises and underserved communities.

During the initial phase of the selection process, applicants must submit a Concept Note outlining their idea or project, along with organisational details for their entities or institutions.

Multiple winners in each theme may receive awards, with fund support available in various forms, including non-grant instruments, term loans, equity-like debt instruments or grants, based on applicant preferences and proposal feasibility.

Projects must fall within the specified theme areas and should be directly or indirectly aligned with the objectives of DCF and SIDBI and should demonstrate substantial energy saving and Greenhouse gas emission reduction potential.

Following the decision to support the project, the applicant is required to sign an agreement or fund support contract using the standard DCF format. This document will outline the terms for monitoring and reporting.

(KNN Bureau)