Section 3 in Energy Conservation (Venture Capital Fund for Energy Efficiency) Rules, 2017
3. Establishment of Venture Capital Fund for Energy Efficiency.
(1)The Bureau shall establish a Venture Capital Fund for Energy Efficiency to provide equity capital for energy efficiency projects.(2)The fund shall be administered by a trust created and managed by the Bureau and registered with the Securities and Exchange Board of India as a Venture Capital Fund.(3)The Director General of the Bureau shall be the founder and settler of Venture Capital Fund for Energy Efficiency trust.(4)The trust shall provide overall guidance for operation of the Venture Capital Fund for Energy Efficiency.(5)The Chairman of the Board of Trustee shall be the Director General, Bureau, who shall implement the National Mission for Enhanced Energy Efficiency.(6)The investment management of the fund shall be carried out by a fund manager appointed by the Bureau which shall be a public financial institution.
