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About ICEF

India Clean Energy Finance (ICEF) is a project preparation facility managed by Climate Policy Initiative in India, building on the successful completion of US-India Clean Energy Finance Facility (USICEF).ICEF is a one-of-its-kind initiative to promote applications of distributed renewable energy (DRE) by supporting early-to-mid stage development of DRE projects and scaling up of DRE businesses. With funding support from MacArthur Foundation and Bloomberg Philanthropies, ICEF provides technical assistance that can help catalyse long-term debt financing and equity investments for DRE projects from banks, NBFCs, impact investors, and other international financial institutions.

How It Works

DRE project developers and enterprises can apply for an ICEF project preparation grant support through an application form.

The evaluation of the application is carried out by CPI and reviewed by an Advisory Committee.

After the approval of the applications, CPI engages ICEF’s network of empanelled financial advisors along with the awardee to provide the required project preparation support.

CPI will directly pay a service fee to the financial advisors as per milestones achieved.

01

DRE project developers and enterprises can apply for an ICEF project preparation grant support through an application form.

02

The evaluation of the application is carried out by CPI and reviewed by an Advisory Committee.

03

After the approval of the applications, CPI engages ICEF’s network of empanelled financial advisor along with the awardee to provide the required project preparation support. 

04

CPI will directly pay a service fee to the financial advisors as per milestones achieved.

01

The project developers and financial intermediaries apply for a ICEF project preparation grant support through an application form.

02

The evaluation of the application is done by CPI, as the Program Manager, with support from an Advisory Committee. 

03

After the approval of the applications, CPI engages ICEF network of empanelled service providers to provide required project support. 

04

Grant amount is transferred to service providers to provide relevant project support upon successful completion of the tasks. 

05

Project developers and financial intermediaries get the project development support and are recommended for long term financing.

Who
Should Apply?

Project developers and enterprises in the DRE domain at early to mid-stage of project development seeking financial support should apply.

Market Assessment
Market assessment studies
including sizing and demand
estimation. 
Feasibility Studies
Techno-economic feasibility studies (resource estimation, technology assessment, etc.).
Development
Product development and testing crucial for delivering high-quality projects. 

Who Should Apply?

Project developers and enterprises in the DRE domain at early to mid-stage of project development seeking financial support should apply.

Monitoring
Third party monitoring and verification of project performance. 
Legal Costs
Legal costs for structuring documentation related to permitting, engineering, procurement & construction, operations & maintenance etc.
Financial Advisory
Financial advisory services in providing individuals and businesses with personalized financial guidance.
Social Impact
Environmental and social impact assessment in promoting sustainable development and responsible decision-making.

Why Apply?

The support extended by the facility helps accelerate the development of DRE projects.
The project developer gets to access a wide array of empaneled service providers for various project preparation services.
The facility enables access to a wide range of capital from debt to equity, and from term loans to working capital finance.
The project developer becomes investment-ready for appropriate type of financing.
The support extended by the facility helps accelerate the development of DRE projects and scaling up of DRE-based businesses.

The awardee gets to access a select set of qualified financial advisors for facilitating fundraising.

The facility enables access to a wide range of capital from debt to equity, and from term loans to working capital finance.

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