Call for

India Clean Energy Finance (ICEF) Grant

Organisation Name:

Climate Policy Initiative (CPI)

Application Deadline:

14 April 2025

About Organisation

Climate Policy Initiative (CPI) is a globally recognized analysis and advisory organization specializing in finance and policy. With a strong commitment to driving sustainable economic growth, CPI collaborates with governments, businesses, and financial institutions to develop strategies that address climate change while fostering economic resilience. The organization provides expertise in structuring and mobilizing capital for sustainable investments, focusing on solutions that create lasting impact. CPI’s approach integrates data-driven insights, rigorous research, and strategic advisory to help decision-makers navigate complex financial and policy landscapes. By leveraging its expertise, CPI aims to unlock capital for climate-focused initiatives, enhance financial sustainability, and promote inclusive economic development.

With a vision to build a sustainable, resilient, and inclusive global economy, CPI plays a crucial role in bridging the gap between climate finance and policy implementation. The organization supports innovative financing models that drive clean energy transitions, improve resource efficiency, and promote climate resilience. By working closely with key stakeholders, CPI helps catalyze investments in sustainable infrastructure, energy solutions, and low-carbon development, ensuring that financial flows align with climate goals. Through its targeted initiatives, CPI continues to influence global financial systems, fostering a greener and more sustainable future.

About the Grant

India Clean Energy Finance (ICEF) invites applications for its latest round of catalytic grant support to advance distributed renewable energy (DRE) enterprises and projects. ICEF aims to accelerate the commercialization of DRE technologies and facilitate the mobilization of commercial capital for sustainable energy initiatives. The program provides financial advisory support to help enterprises secure investments and scale their solutions.

In its first phase, ICEF successfully mobilized over 50 times the capital for each dollar spent on technical assistance. The grant focuses on promoting diverse DRE technologies, including solar rooftop solutions, e-mobility and solar-powered EV charging, renewable energy-powered cooling systems, agrivoltaics, productive mini-grids, alternative sustainable fuels, distributed green hydrogen, and energy-as-a-service models. Supported by Bloomberg Philanthropies, ICEF provides crucial financial guidance to selected enterprises, enabling them to expand their market presence and attract further investment.

By bridging the gap between early-stage businesses and commercial capital, ICEF plays a pivotal role in fostering clean energy adoption and promoting sustainable development. The program is designed to support both well-established and emerging technologies, ensuring they have the financial backing needed to scale effectively.

Who can Apply?

ICEF seeks applications from enterprises that meet the following eligibility criteria:

The applicant must be an entity limited by shares, such as a private or public limited company.
The applicant, or in the case of a project-specific special purpose vehicle (SPV), its sponsor must be legally registered in India and should not be blacklisted by any government or public sector entity.
The applicant or project SPV sponsor must have a last-reported annual revenue of at least USD 300,000.
The business model must be based on a commercially viable DRE technology with clear market potential and a functional prototype tested in a practical environment.
Applicants should demonstrate a well-defined commercialization strategy with visible market demand.
The enterprise or project SPV must be led by a competent team with relevant technical, business, and sectoral expertise, as well as a strong track record in project execution.
Non-financial intermediary applicants should have a fundraising plan of at least USD 1 million within a year, while DRE-focused financial intermediaries should have a fundraising plan of at least USD 2 million within a year.
The applicant must be willing to comply with facility monitoring, evaluation, and reporting requirements.

How to Apply?

Applicants must complete the application form and submit it along with all required supporting documents to icef@cpiglobal.org. The application process involves providing financial details, project information, and a clear commercialization strategy.