US and India launch US$20 million clean energy finance initiative for Indian solar

Facebook
Twitter
LinkedIn
Reddit
Email
USICEF will deploy up to US$20 million in project preparation support for distributed solar projects in India. Flickr: opensource

The India government and the US Government’s development finance institution, the Overseas Private Investment Corporation (OPIC), have launched a US$20 million finance initiative to fund renewable energy projects in India.

The US-India Clean Energy Finance (USICEF) scheme has received funding from multiple foundations as well as the indian government, while the Climate Policy Initiative (CPI) in Delhi has been selected as its secretariat.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

USICEF will deploy up to US$20 million in project preparation support for distributed solar projects, that are under consideration for long-term financing from OPIC. This will help developers secure capital to scale up their businesses.

Elizabeth Littlefield, OPIC’s president and chief executive, said: “This initiative is a critical step towards increasing access to energy in underserved regions in India. The India Clean Energy Finance Initiative will support small projects with seed capital and assistance to help them grow as they then look to OPIC to work with. This public-private partnership presents the opportunity for OPIC to finance and deploy high-impact development projects that support underserved communities throughout India to help the country meet its energy goals.”

Another scheme, the US-Africa Clean Energy Finance Initiative (ACEF) has already deployed US$20 million in grants and is on track to catalyze over US$1 billion in project investment in Africa from a combination of private capital providers and OPIC.

Read Next

September 16, 2025
IB Solar is investing INR30 billion (US$340 million) in a 4GW TOPCon solar cell and module manufacturing plant in Jewar, Uttar Pradesh.
September 15, 2025
Norwegian energy firm Statkraft has agreed to divest a portion of its renewable energy portfolio to Serentica Renewables.
September 15, 2025
Vikram Solar has secured a contract to supply 200MW of modules to AB Energia, a domestic solar engineering, procurement, and construction (EPC) solutions provider. 
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.
September 10, 2025
Indian solar module manufacturer Vikram Solar reported a 79.7% year-on-year increase in revenue for the first quarter of FY26.
September 8, 2025
Vikram Solar has won a 336MW module supply agreement from L&T Construction for the 2.3GW Khavda solar park in Gujarat. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA