IL&FS Investment will manage the Urjankur Fund, a venture capital fund set up by Government of Maharashtra for non conventional energy generation. The fund will have a corpus of Rs 418 crore, out of which Government of Maharashtra will contribute Rs 218 crore over a period of three years and the rest will be raised from private sector.Urjankur Fund will support commercially viable alternative energy projetcs. “These projects will be developed on 80:20 debt equity ratio. If an individual sugar factory could contribute Rs 1 crore towards equity, the balance Rs 3 crore will come from the Urjankur Fund,” Maharashtra's minister for non-conventional energy, Vinay Kore, said.
source : http://www.vccircle.com/blog/_archives/2006/7/19/2136890.html