Winrock has got into an MoU with the United Western Bank Ltd for this purpose. The bank would be providing financial assistance mostly in the form of term loans for entrepreneurs getting into energy projects.

Winrock will coordinate the development and execution of the fund which will be done through the branch network of United Western Bank. The bank will also consider creation of a parallel debt facility to complement the seed capital investment made by the fund. The seed capital will range from Rs 10 lakh to Rs 1 crore.

Winrock's programme officer John Ryan and United Western Bank's executive director ST Gadre signed this agreement. The Nimbkar Agricultural Research Institute will also participate in the project and would be offering technical consulting services to the projects.

Winrock is a non-profit organisation based in the US. The Indian venture is aimed at developing small-scale renewable enterprises in rural areas. The fund is likely to start operations in two to three months' time.