According to media reports,US Overseas Private Investment Corp will decide onMarch 29 whether to finance India's renewable-energy and energy-efficiency projects.
Reports suggest that the company is considering to lend$250 millionto Infrastructure Development Finance Co. (IDFC) which will on-lend the amount to clean energy projects that suffer from inadequate funding.
IDFC would have to obtain prior approval from OPIC before funding wind farms, according to the proposal.
Mumbai-based IDFC has stopped approving new loans for coal power projects in India, which are facing delays and fuel-supply risks, and is focusing on clean energy, Pradeep Singh, managing director of its project finance unit, said in February.