October 17, 2018

US-India Clean Energy Finance (USICEF) has selected its third round of project developers in Indian distributed solar power to receive grant support for project preparation activities, estimated to be around USD $1.2 million total for the ten grantees. The selected grantees are:

  • Greenlight Planet India Pvt Ltd, owned by Greenlight Planet Inc, a leading global solar home systems company having strong presence in Africa and India.
  • Frontier Markets Pvt Ltd, is focused on providing quality clean energy access to rural customers in India.
  • Sunvest Capital Pvt Ltd, is a proposed Non-Banking Financial Company (NBFC) by Sunvest, an experienced Engineering, Procurement and Construction (EPC) installer with presence across 8 states in India.
  • Freyr Energy Services Pvt Ltd, an end-to-end solar services provider focused on commercial, industrial and residential rooftop segment.
  • Hodson Renewable Pvt Ltd, an early stage solar rooftop and small ground mounted developer founded by experts in renewable energy sector.
  • Jakson Solar Pvt Ltd, a well-established rooftop solar developer focused on the institutional customer segment.
  • Panamasolaire Energy Pvt Ltd, is owned by Berkeley Energy and is based out of Pune. The company is focused on providing rooftop solar solutions to commercial and industrial customer segment.
  • Asparktech Solutions Pvt Ltd, an early stage developer focused on rooftop and small ground mounted solar targeting a mix of SEZs and SME clusters as off-takers.
  • HFM Solar Power Pvt Ltd, an end-to-end rooftop solutions provider for C&I and institutional customers. The company is part of over 50-year-old HFM group and is based in New Delhi.
  • Sangam SMESCO Pvt Ltd, backed by Sangam Ventures, is focused on accelerating adoption of residential rooftop solar through its standardized product offering and innovative financing mechanisms.

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.