Clean energy financing

The Minister of State for Power, Coal, New and Renewable Energy and Mines (Independent Charge), Shri Piyush Goyal and the US Ambassador in India, Mr. Richard Verma witnessing the exchange of Letter of Intents between MNRE and OPIC, at a meeting for Announcement of US-India Clean Energy Finance Facility Initiative, in New Delhi on December 16, 2016. — Source: PIB. Goyal and Verma witnessing the exchange of Letter of Intents.

The #Ministry for Power, Coal & New and Renewable Energy and Mines (MNRE) and #Overseas Private Investment Corp (OPIC) have signed a Letter of Intents (LoI) to create a US$20 million #US-India Clean Energy Finance (USICEF) Initiative.

Both countries have also launched the USICEF Initiative would unlock OPIC financing and mobilize public and private capital to expand access to distributed clean energy projects in India.

Equally supported by the United States and India, the initiative would get support for long-term debt financing from OPIC.

The U.S.-India Clean Energy Finance facility (USICEF) would support project preparation activities for solar projects. It would also unlock OPIC financing and mobilize public and private capital to expand access for clean energy solutions.

MNRE Minister Piyush Goyal and US Ambassador Richard Verma in India witnessed the exchange of LoI between MNRE and OPIC in New Delhi on December 16, 2016. fii-news.com