April 9, 2020

NEW DELHI – In its fifth round, US-India Clean Energy Finance (USICEF) – India’s first project preparation facility to scale up distributed solar power projects and drive long-term financing – has selected six project developers in Indian distributed solar power to receive grant support for project preparation activities, estimated to be around USD $900 thousand in total. The selected grantees are:

  • Electronica Finance Limited, a specialized Non-Banking Financial Company (NBFC) serving micro, small and medium-sized enterprises (MSMEs) for nearly 30 years in India.
  • GloWorld Energy Pvt Ltd, an Indian social enterprise focused on manufacturing solar home systems and lighting devices.
  • Fourth Partner Energy, a distributed solar energy firm focused on rooftop and ground-mounted solar installations for the commercial and industrial customer segment.
  • Cygni Energy, an established EPC and solar services provider, focused on providing innovative solar solutions to commercial and industrial customers across India.
  • Ampsolar India, the Indian subsidiary of Amp Group, focused on development of clean energy assets in India.
  • Zolt Energy, a residential rooftop solar company with extensive experience solar panel installations spread over nine states in India.

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, IndusInd Bank, Tata Cleantech Capital Limited, PTC India Financial Services Limited (PFS), 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.