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Explainer: Application Process for ALMM Inclusion and Renewal


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					</table><p>India-based renewable energy project developer <a href="https://renewpower.in/" target="_blank" rel="noopener">ReNew</a> has commissioned its first interstate transmission system (ISTS) project, the Koppal Transmission Program, which aims to facilitate the transmission of 1.5 GW of renewable energy in Karnataka.</p>
<p>Awarded in the financial year 2022, the program encompasses the construction of a new 400/220 kV substation at Koppal, a 276 Ckt Km 400 kV D/C quad moose transmission line, and an extension of the 400 kV GIS Bays at the Powergrid Narendra (New) Substation.</p>
<p>Following the commissioning of the 1,500 MW Koppal Transmission program, the remaining transmission for 3,500 MW is anticipated to be completed by June 2024.</p>
<p>In response to this development, an agreement was recently signed on the second joint investment in the transmission sector with private equity company <a href="https://www.norfund.no/" target="_blank" rel="noopener">Norfund</a> and Norway’s largest pension fund, <a href="https://www.klp.no/en" target="_blank" rel="noopener">KLP</a>.</p>
<p>The investment made by Norfund and KLP in ReNew’s transmission projects aligns with ReNew’s farm-down strategy, allowing for the addition of further capacity. This collaboration is expected to yield synergies in project execution and operations, leveraging ReNew’s in-house capabilities and playing a crucial role in enabling the earlier commissioning of renewable energy projects.</p>
<p>These factors are anticipated to enhance returns and reduce completion timelines, mitigating risks for the company’s core renewable energy development business.</p>
<p>To date, ReNew has secured three transmission projects in Karnataka under ISTS, contributing to the transmission of 5 GW of wind and solar power potential identified in Phase-I for 35 years.</p>
<p>The Central Transmission Utility, a government-owned entity and a wholly-owned subsidiary of PGCIL, will oversee the billing, collection, and disbursement of revenue for these transmission projects.</p>
<p>The recent agreement between these companies to invest in the Gadag Project for a 49% stake represents the second investment in the partnership, with aspirations for additional joint ventures. The expected levelized EBITDA for the Gadag Project is approximately $6.2 million, encompassing the development of substations, transmission lines, and augmentation facilities.</p>
<p>Commercial operations for the Gadag Project are anticipated to commence in two phases – in the last quarter of FY24 and the first quarter of FY25, contributing significantly to India&#8217;s sustainable energy objectives.</p>
<p>Kailash Vaswani, Group CFO of ReNew, highlighted the strategic significance of investments in the transmission sector. He emphasized how such investments synergize with ReNew&#8217;s core renewable energy portfolio by bolstering the certainty of connecting large renewable energy development projects.</p>
<p>Vaswani also underscored the success of capital recycling, wherein ReNew has raised over $500 million in equity over the past two years by divesting stakes in assets.</p>
<p>Through the partnership with ReNew, Norfund aims to contribute to India&#8217;s climate goals by connecting an additional 2.5 GW of planned renewable power to the national grid.</p>
<p>The Ministry of Power <a href="https://www.mercomindia.com/renew-powers-overhead-transmission-lines-rajasthan-approved" target="_blank" rel="noopener">approved</a> a plea from ReNew Dinkar Urja, a special-purpose vehicle of ReNew Power, to set up overhead transmission lines for its 200 MW solar power project in Bikaner, Rajasthan.</p>
<p>In June this year, ReNew Power said it would <a href="https://mercomindia.com/renew-power-acquire-wind-solar-projects/" target="_blank" rel="noopener">acquire</a> 471.65 MW of wind and 56.25 MW of solar assets spread across eight states. The projects were estimated to have a total enterprise value of ₹30 billion ($369 million).</p>
<p>The company <a href="https://mercomindia.com/renew-power-1-1-billion-loan-1-3-gw-round-the-clock-renewable/" target="_blank" rel="noopener">announced</a> $1.1 billion in external commercial borrowing for the company’s hybrid round-the-clock battery-enabled renewable project.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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ReNew Commissions ISTS Project to Evacuate 1.5 GW of Renewables in Karnataka


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					</table><p>The government is working towards setting up transmission systems for renewable energy zones with 66.5 GW of capacity by the end of 2022 to integrate non-fossil fuel energy sources with the country’s grid.</p>
<p>At a parliamentary consultative committee meeting chaired by Power Minister R K Singh, members were apprised of initiatives to set up thirteen renewable energy management centers to address generation variability and uncertainty and transmission systems for integrating an additional 52 GW of potential renewable energy zones by 2026-27.</p>
<p>According to a Power Ministry statement, transmission arrangements for another 181.5 GW of renewable energy resources by 2030 have been planned.</p>
<p>Members were informed of plans to strengthen the country’s transmission capacity, with power consumption reaching 1,400 billion units and expected to double by 2030.</p>
<p>Transmission systems for seven solar parks (6,500 MW) in 5 states comprising about 1,870 ckm transmission lines and five sub-stations with 1,3500 MVA transmission capacity had been implemented by POWERGRID.</p>
<p>While the peak power demand is currently 216 GW, the installed capacity of the national grid is 404 GW.</p>
<p>To decongest the transmission network, the government had adopted several measures, including a 1200 kV Ultra High Voltage AC system, tower designs to reduce right-of-way, application-based patrolling, hotline maintenance, tubular poles for fewer land regions, and gas-insulated switchgear for maintenance.</p>
<p>According to a <a href="https://mercomindia.com/india-188-gw-renewable-capacity-5-years-meet-peak-demand-cea/" target="_blank" rel="noopener">draft</a> of the National Electricity Plan published by the Central Electricity Authority (<a href="https://cea.nic.in/?lang=en" target="_blank" rel="noopener">CEA</a>) in September 2022, India needs to add 224.9 GW of clean energy generation capacity by 2032 to meet the peak demand.</p>
<p>Earlier this year, the Power Minister <a href="https://mercomindia.com/steps-taken-to-integrate-renewables-into-grid/" target="_blank" rel="noopener">highlighted</a> steps to facilitate renewable energy integration into the national interconnection grid. He had told the Parliament that regional energy management centers had been set up to accurately forecast and assist grid operators in managing the variability and intermittency of renewable power.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Transmission Infrastructure for 66.5 GW of Renewable Energy Zones to be Set Up By 2022

<p>Nigeria is currently facing one of the most significant economic downturns in its history due to COVID-19. While the country is grappling with a recession, the government has outlined an ‘Economic Sustainability Plan’ in response to the challenges posed by the COVID-19 pandemic.</p>
<p>The plan focuses on several projects and policy approaches, which could lead to job creation across the fields of agriculture and agro-processing, renewable energy, infrastructure, manufacturing, food security, housing construction, and the digital economy.</p>
<p>Among the key projects proposed by the government, the ‘Solar Home Systems Project’ is expected to serve more than 25 million Nigerians who are currently not connected to the national grid. This move by the government will likely help the local solar manufacturers to set up manufacturing facilities of solar components and appliances in Nigeria, thereby creating jobs for the locals. In addition to this, installation, servicing, and payment collections will create more jobs for the locals.</p>
<p>According to the sustainability plan, the solar power strategy will support 250,000 jobs and impact up to 25 million beneficiaries by installing five million solar-home systems and mini-grids. The government is aiming to provide reliable electricity to health clinics and also to rural communities that have little or no access to the national grid. Private sector installers of solar systems will be supported to access low-cost financing from development finance institutions to install solar systems at an affordable price.</p>
<p>The dependence on oil has accentuated the economic condition of the country. With the fall in crude oil prices to $12 (~₹882.2) per barrel in April 2020 and the inability of the country to sell oil, despite it being priced below the production cost, has put the government in a tight spot.</p>
<p>The National Bureau of Statistics has come up with macro scenarios that show that economic growth could fall by nearly 4.40% to 8.91% depending on the impact of the outbreak COVID-19 pandemic, period of lockdowns, and the amount of stimulus deployed by the government.</p>
<p>The ‘<a href="https://media.premiumtimesng.com/wp-content/files/2020/06/ESC-Plan-compressed-1.pdf" target="_blank" rel="noopener noreferrer">Economic Sustainability Plan</a>’ aims to address the effects of the recession while ensuring social stability and addressing long-standing economic vulnerabilities.</p>
<p>Another important program that the government has proposed in the plan is the ‘National Gas Expansion Programme.’ The government aims to accelerate the transition of Nigeria to a post-oil era, promote the domestic use of cleaner fuels, and prepare the compressed natural gas (CNG) market for export opportunities.</p>
<p>The ‘National LPG Expansion Implementation Plan’ will oversee and drive all the efforts undertaken by industry stakeholders to promote LPG consumption in Nigeria. The project will organize the sector to support conversion from traditional fuels like kerosene, wood, etc. to cleaner LPG fuel. The government will work with private players to promote the manufacturing of cylinders and other accessories to foster wider adoption of LPG.</p>
<p>In June this year, All On, an independent impact investment company, had <a href="https://mercomindia.com/solar-installations-nigerian-centers-covid-outbreak/" target="_blank" rel="noopener noreferrer">announced</a> the completion of the first phase of nationwide solar installations at Nigerian emergency health facilities related to the COVID-19 pandemic response. The company had announced the formation of a COVID-19 Solar Relief Fund on March 31, 2020, and it was established with help from solar companies like Auxano, GVE, and Lumos. The main aim of the fund is to provide solar power for emergency health facilities in support of the national response to the COVID-19 pandemic.</p>
<p>Recently, the African Union Commission and the International Renewable Energy Agency <a href="https://mercomindia.com/africa-renewables-response-covid-pandemic/" target="_blank" rel="noopener noreferrer">agreed</a> to work together to promote renewable energy across the African continent and to bolster Africa’s response to the coronavirus outbreak. The two organizations will focus on innovative solutions to drive the development of renewable energy, including decentralized systems, and to increase access to energy across the continent.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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Nigeria Bets on Solar to Create Jobs Post COVID-19 Disruption

<p>State-owned Electricity of Vietnam (<a href="https://en.evn.com.vn/c3/gioi-thieu-f/Overview-2-3.aspx" target="_blank" rel="noopener noreferrer">EVN</a>) has been accelerating the completion of 61 solar power projects so that by the end of June 2019,  a total of  88 solar power projects can be connected to the national grid.</p>
<p>As of April 23, 2019, only four solar power projects in Vietnam had started commercial operation, the number rose to 27 by May 17, 2019, a release by EVN has said.</p>
<p>The additional 61 solar power projects to be commissioned in June are expected to generate a total capacity of 2,000 MW.</p>
<p>With 88 solar power projects added to the national grid, the total energy generated from renewable (wind and solar) power projects in the country will be about 4,000 MW, the release added.</p>
<p>After a recent decision taken by the country’s Prime Minister, the projects connected to the national grid between June 1, 2017, and June 30, 2019, will be eligible to sell electricity to EVN at VNĐ 2,086 ($0.093)/kWh.</p>
<p>Renewable energy power projects are located mainly in the southern and south-central region of Vietnam. Renewable energy is helping EVN to reduce the pressure of supplying power to the southern region, a major economic hub of the country.</p>
<p>Mercom reported earlier about Thailand’s <a href="https://mercomindia.com/b-grimm-power-ppa-257-mw-solar-vietnam/" target="_blank" rel="noopener noreferrer">B. Grimm</a> Power signing a power purchase agreement with Electricity of Vietnam for solar projects totaling 257 MW in Phu Yen province of the country.</p>
<p>The PPA was for a feed-in tariff (FiT) of $0.0935 (~₹6.938)/kWh, with a duration of 20 years. The scheduled commercial operation date of the project is expected to be before June 30, 2019.</p>
<p><a href="https://mercomindia.com/thai-vietnamese-firms-420-mw-solar-project/" target="_blank" rel="noopener noreferrer">In July 2018</a>, B.Grimm Power and Vietnam’s Xuan Cau had signed a development cooperation agreement for the 420 MW solar PV project located in Tay Ninh, south-west of Vietnam.</p>
<p>Vietnam has become an important destination for investment in renewable energy for companies seeking new markets.</p>
<p>&nbsp;</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/soumik/" class="vcard author" rel="author"><span class="fn">Soumik Dutta</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="wp-image-13449 alignleft" src="https://mercomindia.com/wp-content/uploads/2019/05/Soumikimage-e1556814790294-275x300.jpg" alt="" width="93" height="102" />Soumik is a staff reporter at Mercom India. Prior to joining Mercom, Soumik was a correspondent for UNI, New Delhi covering the Northeast region for seven years. He has also worked as an Asia Correspondent for Washington DC-based Hundred Reporters. He has contributed as a freelancer to several national and international digital publications with a focus on data-based investigative stories on environmental corruption, hydro power projects, energy transition and the circular economy. Soumik is an Economics graduate from Scottish Church College, Calcutta University.</p>
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88 Solar Projects Likely to be Added to Vietnam’s National Grid by June 2019

<p>Leh and Kargil, two of India’s most difficult and inhospitable terrains, have finally been connected to the national electricity grid. This feat, achieved after 72 years of independence, was made possible by the government’s PowerGrid Corporation of India Limited (PGCIL), a state-run transmission utility.</p>
<p>According to the update posted by PowerGrid on Twitter, on January 11, 2019, Ladakh was successfully connected to Kashmir through a 220 kV transmission system. “The Jammu and Kashmir Power Development Department (JKPDD) along with PGCIL test charged 220 kV Alusteng-Dras-Kargil-Khalsti-Leh transmission line along with 220/66kV S/s at Dras, Kargil, Khalsti, and Leh,” it said.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">Ladakh successfully connected to Kashmir with 220kV transmission system. JKPDD &amp; POWERGRID test charged 220kV Alusteng-Dras-Kargil-Khalsti-Leh TL along with 220/66kV S/s at Dras, Kargil, Khalsti &amp; Leh. Ladakh will get power in winters &amp; surplus power will be evacuated in summers. <a href="https://t.co/Yqqc5oMjot">pic.twitter.com/Yqqc5oMjot</a></p>
<p>&mdash; POWERGRID (@pgcilindia) <a href="https://twitter.com/pgcilindia/status/1083754945361391616?ref_src=twsrc%5Etfw">January 11, 2019</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The Union Minister for Power, R.K. Singh also commented on the achievement through his Twitter account, calling it a ‘significant milestone’.</p>
<p>“Now, people of Ladakh will be able to access as much power as they need,” Singh said.</p>
<p>This connection assumes significance considering the harsh terrain of the region which undergoes long, severe winter months often cutting it off from most of the country.  Due to its difficult landscape, most of the Ladakh region was not connected to the grid with the rest of the country until now. Because of this, power demand of the area was met by local small hydel and diesel generators. During winters, generation from hydro projects is reduced considerably whereas power demand increases. While in summers, hydel generation is at its highest whereas demand is generally low. Therefore, to have uninterrupted power supply in and around Ladakh area, connectivity with Northern Region Grid was envisaged. Moreover, due to presence of defense establishments in the area and its strategic importance, there was an increased need to get the region connected with rest of the grid.</p>
<p>This power-starved region of the country has managed to get the attention of the government with the Solar Energy Corporation of India Ltd. (<a href="http://seci.co.in/index.php" target="_blank" rel="noopener">SECI</a>) issuing a Request for Selection (RfS) for the development of 7,500 MW of grid-connected solar power projects in Leh and Kargil districts of Jammu &amp; Kashmir. The total capacity of 7,500 MW has been divided into three packages of 2,500 MW each.  The package-A will be set up in the areas tentatively identified in Zanskar sub-division and Tai Suru block of Kargil district. Packages B and C will be developed at Hanley Khaldo area of Nyoma sub-division in the Leh district.</p>
<p><a href="https://mercomindia.com/jammu-kashmir-solar-kargil-leh/" target="_blank" rel="noopener">Recently</a>, the Ministry of New and Renewable Energy (MNRE) launched a plan for the implementation of 23 GW of ultra-mega solar projects in the Leh and Ladakh regions of Jammu &amp; Kashmir, the country’s <a href="https://mercomindia.com/india-giga-solar-tenders-2018/" target="_blank" rel="noopener">largest capacity so far</a>. Phase-I of the project would entail setting up 2,500 MW Solar PV Capacity in Kargil region and 5,000 MW in Leh district. This will be India’s largest tender so far in terms of the capacity envisaged.</p>
<p>Image credit: PowerGrid via Twitter</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/ankita/" class="vcard author" rel="author"><span class="fn">Ankita Rajeshwari</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2018/03/ankita-edited-1.png" alt="Ankita Rajeshwari" /> Ankita is an editor at MercomIndia.com where she writes and edits clean energy news stories and features. With years of experience in the news business, Ankita has a nose for news and an eye for detail. Prior to Mercom, Ankita was associated with The Times of India as a copy editor for the organization’s digital news desk. She holds a Bachelor’s degree in Psychology from Delhi University and a Postgraduate Diploma in journalism. <a href="https://mercomindia.com/author/ankita/">More articles from Ankita Rajeshwari.</a></p>
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72 Years After Independence, Leh and Kargil Connected to National Electricity Grid

<p>The United States will provide India with $7.5 million to improve the national grid. The fund is provided by Department of Energy (DOE), United States Government, and will go towards running a joint U.S.-India five-year project that will help advance the development of the power grid.</p>
<p>The Indian Ministry of Science and Technology and industry partners will match DOE’s commitment, bringing the total fund amount to $30 million, stated a <a href="https://www.energy.gov/articles/energy-department-invests-75-million-improve-electric-grid-reliability-and-resiliency" target="_blank" rel="noopener noreferrer">DOE release</a>. The DOE release also stated, “This step furthers DOE’s collaboration with India under the U.S.-India Partnership to Advance Clean Energy (PACE).”</p>
<p>“This new consortium demonstrates U.S. and Indian commitments to ensuring access to affordable and reliable energy in both countries,” said U.S. Energy Secretary Rick Perry. “We know that continued grid innovation will promote economic growth and energy security in the United States and India,” added Mr. Perry.</p>
<p>The U.S.-India collaborative for smart distribution system with storage (UI-ASSIST) was selected as the new consortia for smart grid and energy storage under the U.S.-India Joint Clean Energy Research and Development Center (JCERDC).</p>
<p>To help pave the way to a more advanced distribution grid that will allow for greater use of distributed energy resources, such as microgrids, and energy storage, the new consortia will bring together experts from academia, DOE’s national laboratories, and industry. Together with their counterparts in India, the center will conduct research and deploy new smart grid and energy storage technologies that will modernize the grids of both nations to make them “smarter,” while increasing resilience and reliability.</p>
<p>India-U.S. collaboration has been increasing in the renewable energy sector.</p>
<p>Mercom <a href="https://mercomindia.com/opic-mnre-launch-20-million-us-india-clean-energy-finance-facility-initiative/" target="_blank" rel="noopener noreferrer">previously reported</a>, the Government of India and the Overseas Private Investment Corporation (OPIC), the U.S. government’s development finance institution, launched the US-India Clean Energy Finance (USICEF) Facility Initiative with $20 million (~Rs.1.36 billion) to initiate the flow of up to $400 million (~Rs.27.1 billion) in public and private financing for renewable power generation in India by 2020.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/raj/" class="vcard author" rel="author"><span class="fn">Raj Prabhu</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Raj-New-200X200-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Raj Prabhu,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/raj/" target="_blank" rel="noopener">More articles from Raj Prabhu.</a></p>
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<img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Raj-New-200X200-1.jpg" alt="Raj" /><a href="https://mercomindia.com/author/raj/" target="_blank" rel="noopener"><strong style="color: #00b451">Raj Prabhu</strong></a> is a recognized thought leader in clean energy markets where his work has influenced policies worldwide. He has a deep understanding of regulatory policy and clean energy markets and his market and opinion pieces are regularly published on both MercomIndia.com and other leading publications globally. Raj is also a regular speaker and presenter on clean energy policy and finance topics at conferences worldwide. Raj attended the KLE College of Science in Bangalore, India for physics and chemistry, and holds a Bachelor of Science Degree in Hotel and Institutional Management from Johnson and Wales University, Rhode Island. <a href="https://mercomindia.com/author/raj/">More articles from Raj Prabhu.</a></div>
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