PACE setter Fund was in news recently consider the following regarding the same 1 The fund is the pr...........

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PACE setter Fund was in news recently consider the following regarding the same-

1) The fund is the principal funding arm of Promoting Energy Access through Clean Energy (PEACE).

2) It is joint an initiative of the Governments of the United States and India.

Which of the given above statement (s) is/ are correct?

1 Only

2 Only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Both the statements are correct.

The Governments of the Republic of India and the United States of America are currently inviting applicants for its PACEsetter Fund with an aim to improve the viability of off grid renewable energy businesses that sell small scale (under 1 megawatt) clean energy systems to individuals and communities without access to grid connected power or with limited or intermittent access of less than 8 hours per day.