Coal News We love to talk!

DEC 20 2016

India, US launch clean energy finance facility USICEF

  • Economic Times, ET Bureau / Hyderabad
  • Created: Tue 20th DEC 2016

India and US today launched a new clean energy finance initiative aimed at mobilizing public and private capital to expand access to distributed clean energy projects.

The move would unlock financing by the US government’s development finance institution Overseas Private Investment Corporation (OPIC), the power ministry said in a statement.

The US-India Clean Energy Finance (USICEF) Initiative was launched by power minister Piyush Goyal and US Ambassador Richard Verma here. Ministry of New and Renewable Energy (MNRE) Secretary Rajeev Kapoor, White House Senior director John Morton and William Pegues, Managing Director, OPIC were also present on the occasion.

Also, representatives of the David and Lucile Packard Foundation, John D. and Catherine T. MacArthur Foundation, the William and Flora Hewlett Foundation, and Good Energies Foundation attended the event.

The two sides signed Letter of Intents for creation of a $20 million fund for USICEF Initiative. Through this initiative, project developers pursuing mini-grid, distributed rooftop, off-grid solar projects and smaller-scale grid connected solar projects would be benefited.

Tags

Finance Grid Renewable Energy Clean Energy Ministry of New and Renewable Energy Energy United States Power India Solar

Related News

  • NTPC records output of 242 billion units  Read more
  • Power projects tripping on coal shortage and policy paralysis  Read more
  • Solar industry seeks clarity, relief in safeguard duty in Budget 2018  Read more
  • Continuum Wind Energy looking for equity investors to raise $300 million in capital  Read more
  • ONGC, OIL push crude oil output up by 0.24%, natural gas by 4%  Read more
  • Lobbies at work against LNG project?  Read more
  • India debates creation of power sector fund to bail out projects  Read more
  • GMR Group in talks for stake sale in Chhattisgarh power plant  Read more
  • Solar projects risk mitigation mechanism under ISA to be ready in a year  Read more
  • RIL insider-trading case: Sebi caveat in SC  Read more