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
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.
In just three years, USICEF has identified over 30 promising distributed solar power projects across 20 states in India and committed a total of $5.1 million in grant-based funding to these projects.
These projects are expected to commission over 500 MW of clean energy, avoid 660,000 MT CO2 emissions annually, create 17,500 new jobs, generate 710,000 MWh/a of electricity, and mobilize more than $250 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.
If you would like our support replicating or expanding the USICEF model, contact us at CPIservices@cpiglobal.org.