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USAID, DFC announce $41 mn financing for renewable energy in India

Sumary of USAID, DFC announce $41 mn financing for renewable energy in India:

  • The United States Agency for International Development (USAID) and the US International Development Finance Corporation (DFC) have announced a $41 million-loan guarantee program to finance investment in renewable energy solutions by Indian SMEs…
  • “USAID and DFC are jointly sponsoring a $41 million loan portfolio guarantee to help finance investments by Indian small and medium enterprises (SMEs) in renewable energy solutions, including rooftop solar installations…
  • USAID/India Acting Mission Director Karen Klimowski said, “Investments in solar solutions, secured by these credit guarantees, will improve access to clean, steady, and affordable energy as well as further progress towards India clean energy transition and climate change mitigation.”..
  • India commercial and industrial sectors pay high fees for their electricity, making rooftop solar a sustainable, cost-saving investment, but SMEs and residential consumers face obstacles in securing the financing needed to install and use rooftop panels, as per the statement….

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