Venture Capital Fund for Energy Efficiency (VCFEE)
To encourage equity investment in EE projects, BEE has institutionalized VCFEE in India. Venture Capital Fund for Energy Efficiency (VCFEE) is a fund to provide equity capital for energy efficiency projects. The Fund shall provide last mile equity support to specific energy efficiency projects, limited to a maximum of 15% of total equity required, through Special Purpose Vehicles or Rs. 2 crores, whichever is less. The support has been provided to only government buildings, private buildings (commercial or multi-storey residential buildings) and municipalities.
On 7th July, 2015 the VCFEE Trust was constituted as per provisions of Indian Trust Act 1882 and trust deed was registered with jurisdictional sub-registrar Government of Delhi. To operationalize the VCFEE, Fund Manager has been identified through tendering process. VCFEE Rules got notified on 31st March 2017.