The U.S.-India Clean Energy Finance Initiative (USICEF) is under way, following a commitment between the United States and Indian governments to mobilize finance for Indian clean energy projects. USICEF will help promising distributed solar projects develop into viable candidates for financing from The Overseas Private Investment Corporation, the U.S. government’s development finance institution, and other financiers. It is expected to deploy up to $20 million in project preparation support. The Climate Policy Initiative in New Delhi has been selected as secretariat of the initiative. MacArthur and other funders, including the William and Flora Hewlett Foundation, Good Energies Foundation, and the David and Lucille Packard Foundation, are supporting USICEF’s operations.
