The US government’s development finance institution, the Overseas Private Investment Corporation (OPIC), and the Indian government have launched a $20 million finance initiative to fund renewable energy projects in India. The US-India Clean Energy Finance (USICEF) scheme has received funding from multiple foundations and the Indian government. The Climate Policy Initiative’s (CPI) India office will serve as its secretariat. The USICEF will deploy these funds for project preparation for distributed solar projects that are under consideration for long-term financing from OPIC. This will help developers secure capital to scale up businesses.
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