The Indian government and the US government's development financing agency Overseas Private Investment Group (OPIC) has launched a $ 20 million financing project to finance renewable energy projects in India.
The US-India Clean Energy Financing Program (USICEF) has received funding from a number of funds and the Indian government, and has appointed Delhi's Climate Policy Initiative group as the project's secretary.
USICEF will invest 20 million US dollars for the OPIC to consider long-term investment in the preparation of the project to promote the development of distributed solar energy in India. Words will help developers to obtain funds to expand the business scale.
"This initiative is important to increase access to energy in remote areas of India, which will provide seed funding for small projects and help them continue to grow and grow with OPIC," said Elizabeth Littlefield, Chairman and Chief Executive Officer of OPIC. This public-private partnership provides OPIC with a highly-funded development program that supports remote communities and achieves energy goals. "
Another project, the US-Africa Clean Energy Financing Initiative (ACEF), has received US $ 2,000 in funding and has facilitated more than US $ 1 billion in project investment in Africa through private capital and OPIC.