Section 15(1) in Energy Conservation (Venture Capital Fund for Energy Efficiency) Rules, 2017
(1)A Public Financial Institution registered under section 4A of the Companies Act,1956 (1 of 1956), shall be selected as the fund Manager and shall be primarily responsible for making investment on behalf of the Venture Capital Fund for Energy Efficiency in energy efficiency projects as envisaged under these rules including the following; namely:-(a)create a detailed investment strategy based on objectives as specified by the Bureau or Trust, such as segmental market size, impact on energy efficiency, types of technologies, financial returns, risks and other objectives;(b)develop a pipeline of investment options or deals;(c)screen investment opportunities;(d)establish term sheets for investments;(e)due-diligence of investment opportunities-(i)business plan, business space;(ii)technical matters relating to technology;(iii)financial and accounting matters;(iv)legal issues relating to the fund.
