< Back to All Press Releases

USICEF selects a new round of grant recipients to catalyze distributed solar power in India

March 7, 2018

US-India Clean Energy Finance (USICEF) has selected its second round of project developers in Indian distributed solar power to receive grant support for project preparation activities, estimated to be around USD $1.4 million total for the ten grantees. The selected grantees are:

  • 8Minutes Future Energy Pvt Ltd, an end-to-end rooftop solutions provider for residential and commercial consumers in India.
  • Candi Solar Pvt Ltd, a dedicated rooftop solar installer that proposes to be a financier and operator for small and medium enterprises across Asia and Africa.
  • Cleanmax Enviro Energy Solutions Pvt Ltd, one of the leading solar rooftop developers in India that has executed over 200 projects with a combined capacity of 100 MW across 20 industries in India.
  • Mahindra Susten Pvt Ltd, one of India’s leading players in the solar energy sector. It offers diversified services within the renewable energy and clean tech space.
  • Origin Renewables Pvt Ltd, an early stage developer in the renewable energy sector. It is an engineering, procurement, and construction player and a developer for residential rooftop solar PV installations.
  • Simpa Energy Pvt Ltd, an established solar home systems provider that offers a range of solutions made available to their customers on pay-go basis.
  • Solaron Homes Pvt Ltd, an early stage rooftop solutions provider for residential, institutional, and commercial customer segment. It intends to set up projects on a power purchase agreement and deferred payment model targeting residential customers.
  • SolarTown Energy Solutions Pvt Ltd, an end-to-end rooftop solutions provider for commercial, industrial, and residential consumers in India.
  • Sunbeam Real Ventures Pvt Ltd, a solar rooftop developer focused on commercial, industrial, and institutional rooftop segment.
  • SunSource Energy Pvt Ltd, an established EPC player in rooftop solar and ground mounted solar segment providing end-to-end solar development and execution services.

Visit here to read the full list of current and previous USICEF project developer grantees.

Applications for both project developers and service providers are accepted on an ongoing, rolling basis. To learn more and to apply, visit www.usicef.org

USICEF aims to drive access to energy in underserved regions of India by helping promising distributed solar projects develop into viable investment opportunities, via essential early-stage project preparation support. USICEF is a keystone of the commitment made between the Indian and US governments to mobilize finance for Indian distributed clean energy projects.

USICEF will deploy millions of dollars in project preparation support that will lay the foundation for project developers in distributed solar power to access much-needed capital to scale up their businesses.  USICEF is a partnership between the Indian Ministry of New and Renewable Energy, the India Renewable Energy Development Agency (IREDA), the Overseas Private Investment Corporation (OPIC), and a consortium of foundations, including the William and Flora Hewlett FoundationGood Energies Foundationthe John D. and Catherine T. MacArthur Foundationthe David and Lucile Packard Foundation, and the Jeremy and Hannelore Grantham Environmental Trust. USICEF’s support catalyzes long-term debt financing for distributed solar power from OPIC and other international financial institutions. Climate Policy Initiative serves as the Program Manager.