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

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

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

May 30, 2025
Waaree Solar Americas – a subsidiary of Indian solar manufacturer Waaree Energies – has signed a 586MW solar module supply agreement with an undisclosed independent power producer (IPP).
May 29, 2025
Singapore-based engineering firm Sembcorp has received a letter of award from Indian public sector power company SJVN for 150MW of solar power and a 300MWh battery energy storage system (BESS).
Premium
May 29, 2025
PV Talk: Global Solar Council CEO Sonia Dunlop tells Shreeyashi Ojha why the solar industry needs collective action to combat political and supply-chain disruption.
May 28, 2025
The expansion is 100% compliant with the Indian government's requirement of Bureau of Indian Standards (BIS).
May 27, 2025
India has shipped 12.5GW of module capacity in the first quarter of 2025, according to data from energy consultancy JMK Research.
May 20, 2025
Solar PV additions have slowed down in the first quarter of 2025 in India, with 6.7GW, according to a report from Mercom India Research.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 8, 2025
Asia