Shri Piyush Goyal Minister of State (IC) for Power, Coal & New and Renewable Energy and Mines and US Ambassador Mr Richard Verma in India launched new joint initiative of US-India Clean Energy Finance (USICEF) Initiative which would help in unlocking OPIC financing and mobilize public and private capital to expand access to distributed clean energy projects here today. Shri Rajeev Kapoor, Secretary, MNRE, White House Senior director John Morton and Mr William Pegues, Managing Director, OPIC and 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 were also present. Letter of Intents were signed and exchanged between MNRE and OPIC in presence of Shri Piyush Goyal for the creation of a $20 million for US-India Clean Energy Finance (USICEF) Initiative, equally supported by the United States and India would support projects which, upon long-term financing and deployment, and would qualify for the support of long-term debt financing from OPIC.
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