Supporting expansion of solar power and clean energy, in India 

The $5.6 billion Clean Technology Fund (CTF), is a funding window of the CIF (Climate Investment Funds). It is empowering transformation in developing and emerging economies by providing resources to scale up low carbon technologies with significant potential for long-term greenhouse gas emissions savings.

Every CTF country has tailored its CTF investment plan to align with national development goals and to serve as a framework to coordinate activities across institutions and stakeholder groups. A total of $3.8 billion (over 68 percent of CTF funding) is approved and under implementation and expecting $46 billion in co-financing.

CTF concessional financing, channeled through partner multilateral development banks (MDBs), is boosting investor condence and attracting signicant co-financing from other sources by:

  • Driving down technology costs
  • Supporting first-movers
  • Bridging financing gaps
  • Creating markets
  • Innovating private sector finance

The CIF continues to test new modalities to address barriers that hinder private sector participation in climate action. The Dedicated Private Sector Programs (DPSP) were created under the CTF to finance large-scale private sector projects with greater speed and efficiency in response to market demand, while maintaining country priorities. A total of $467 million has been allocated to programs in geothermal power, mini-grids, mezzanine finance, energy efficiency, solar PV, and early-stage renewable energy.