OPIC has committed over $500 million, and mobilized more than $450 million in additional private sector capital, in India’s clean energy sector.
In 2012, OPIC committed $250 million in financing to help Infrastructure Development Finance Company (IDFC), India’s premier infrastructure lender, expand its lending to renewable energy and infrastructure projects, providing much needed long-term capital in a dynamic sector.
To date, IDFC has been deploying the funds largely to support power generation activities, however, we expect that some of the funds will be deployed to support energy efficiency programs. OPIC anticipates that it will support additional projects in 2013.
Just yesterday, the United States Agency for International Development (USAID) announced that it would partner with US-based institutional investor Northern Lights Capital Group to facilitate a $ 100 million investment in India’s clean energy sector via Nereus Capital.