Drinking rainwater from banana leaf, Nigeria. (c) I. Uwanaka/UNEP peopleandplanet.net
people and renewable energy
Drinking rainwater from banana leaf, Nigeria. (c) I. Uwanaka/UNEP
Population Pressures <  
Food and Agriculture <  
Reproductive Health <  
Health and Pollution <  
Coasts and Oceans <  
Renewable Energy <  
Poverty and Trade <  
Climate Change <  
Green Industry <  
Eco Tourism <  
Biodiversity <  
Mountains <  
Forests <  
Water <  
Cities <  
Global Action <  

   overview | newsfile | books | films | links | factfile | features | glossary 

renewable energy > newsfile > indian solar energy project wins world award

Indian solar energy project wins world award

Posted: 22 Apr 2007

The prestigious Energy Globe award for promoting sustainability energy has been won by the UN Environment Programme (UNEP) for helping 100,000 people in 18,000 Indian villages finance the purchase domestic solar systems.

Launched in 2003, the Indian Solar Loan Programme was a four-year partnership between UNEP, the UNEP Risoe Centre, and two of India's largest banks, the Canara Bank and Syndicate Bank. It established a credit market to finance the take-up of Solar Home Systems in South India, particularly in areas where the grid does not yet extend.

In the beginning the programme consisted of an interest rate reduction, market development support and a system for qualifying solar suppliers. Now after four years the interest rate reduction has been removed and 20 separate banking groups now offer solar financing on a commercial basis.

"In the past there has been a lot of money poured into market development schemes, particularly subsidies to lower capital costs, but with little success. The award shows that improving access to finance can help to influence the shift towards cleaner energy in the developing world," said Achim Steiner, UNEP Executive Director.

UNEP has used the expertise gained from the Indian Solar Loan Programme to expand into other areas, such as the solar hot water heating programmes in Tunisia and Morocco and other projects in Indonesia, Mexico and Chile.

The Energy Globe award is presented every year to projects which have helped the cause of sustainable development around the world. In 2007, more than 700 projects were submitted to the jury.

Source: UNEP.

© People & the Planet 2000 - 2007
Solar panels provide homes with electricity, In Cacimbas, Ceara, Brazil. Photo: Roger Taylor/NREL
picture gallery
printable version
email a friend
Latest Newsfile

For more details of how you can help, click here.

   overview | newsfile | books | films | links | factfile | features | glossary 
designed & powered by tincan ltd