Driving energy access in the most underserved regions of India

, June 2018

 

Driving energy access in the most underserved regions of India

Service

CPI manages the U.S.-India Clean Energy Finance (USICEF) initiative, which is India’s first project preparation and pipeline development facility to help promising distributed solar projects develop into viable investment opportunities.

A keystone of the commitment made between the Indian and US governments to mobilize finance for Indian distributed clean energy projects, USICEF enables these projects to unlock capital that in turn benefits disadvantaged communities in India and contributes to India’s ambitious renewable energy and energy access goals.

Impact

In less than two years, USICEF has identified 15 promising distributed solar power projects across more than 15 states in India and deployed a total of $2.3 million in grant-based funding to these projects.

These projects are expected to commission over 200 MW of clean energy, avoid 217,192 MT CO2 emissions annually, create 9,530 new jobs, generate 226,242 MWh/a of electricity, and mobilize more than $123 million in project debt.

This means a leverage ratio of ~$90 for energy access in India for every $1 in funding to CPI as USICEF Secretariat.

Learn more about USICEF, here.

Contact

If you are a project developer in the distributed solar power sector, who could benefit from project preparation services and funding for early stage project development, contact us at usicef@cpiclimatefinance.org.

If you would like our support replicating or expanding the USICEF model, contact us at services@cpiclimatefinance.org.

Related work

The USICEF initiative is a critical step towards increasing access to energy in underserved regions in India. 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.

-Elizabeth L. Littlefield

Former President and CEO, OPIC

 

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