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USICEF Application for Project

Developers

About USICEF
The U.S.-India Clean Energy Finance (USICEF) initiative is Indias first facility
to help promising distributed solar projects develop into viable investment
opportunities, via essential early-stage project preparation support.

USICEF will deploy up millions of dollars in project preparation support,

sourced from a consortium of U.S. philanthropic foundations and the Indian
Ministry of New and Renewable Energy (MNRE), to distributed solar power
projects to help catalyse long-term debt financing from the Overseas Private
Investment Corporation (OPIC) and other international financial institutions.

USICEF will support projects in the distributed solar power space, particularly
mini-grid, distributed rooftop and off-grid solar projects, as well as smaller-
scale grid connected solar projects. The facility will fund project proponents
and/or third party professional service providers to support technical and
other services (such as feasibility assessments, legal structuring fees,
financial advisory services, micro-enterprise development support to
augment load offtake, etc.) required by the project developers and/or project
proponents (including financing intermediaries, leasing facilities, or
companies engaged in portfolio development of self-generation solutions for
customers) to become attractive for debt investment.

Part 1: Eligibility Criteria

The criteria below form the prerequisites for application to USICEF. Please
proceed to Part 2 only if all of the following are met:
1. The proposed project must be focused on solar power generation and
distribution for external commercial consumption.
2. The proposed project must utilize technologies that have already been
proven in commercial operations and/or tested at a Ministry of New and
Renewable Energy (MNRE) accredited lab.

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3. The project developer/project proponent should not be blacklisted by any

government or public sector agency in India.

Please refer to the FAQs on the USICEF website here for the eligible use of
funds under USICEF.

Part 2: Application Components

1. Completed application form (pages 3-8)

In addition to the completed application form, we request the following

materials:
2. Detailed business plan and/or project report, containing the following
elements:
2.1. Detailed description of the proposed project, including its current
status and key risks and potential challenges for its implementation
2.2. Breakdown of the estimated total project costs
2.3. Details of current capital availability, including sources, amount,
and status of on-going fundraising efforts
2.4. Discussion of the companys track record and experience,
including CVs/bios for key management team members
2.5. Description of key technologies to be used in the project
2.6. Discussion of market conditions, potential competition, and
pricing
2.7. Overview of the project milestone timeline (preferably in a
tabular form)
2.8. Financial projections including cash flow, income statement,
and balance sheet for the next five years (preferably in an Excel
sheet)
2.9. Overview of the projects overall social, economic, and
environmental impacts (indicative snapshot summary on the lines
indicated in the application form section: Development Impact)
3. Audited financial statements for the last two fiscal years, with the
auditors opinion and all footnotes, if available
4. Organization chart showing project ownership, including all ultimate and
beneficial shareholders owning more than 5% of the project
5. Other relevant documentation that would be helpful in evaluation the
USICEF request (for example, feasibility studies, power purchase
agreements, lease agreements, resource studies, investor letters of
intent, etc.)
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Contact
Please send your completed application form and required supporting
documents to: usicef@cpiclimatefinance.org.

For further information, you can visit our website usicef.org and email
usicef@cpiclimatefinance.org.

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Application Form

Application number: _________________ (To be filled in by USICEF)

BRIEF DETAILS OF APPLICANT COMPANY

1. Name of the company
2. Contact person(s) / authorized Name and title of representative:
signatories Relationship to the project company:
(Individual signing the application; Address:
i.e. shareholder in or executive of Office nos:
the project company, financial Cell:
advisor, legal counsel, etc.) Email:
3. Registered office/permanent
address
4. Telephone/fax nos.
5. Contact email
6. Legal status of the company
7. Date of incorporation/registration
8. Date of start of actual business
9. PAN/GIR No.

DETAILS OF EXISTING TERM LOANS AND OTHER BORROWINGS

Bank & Purpose Loan Current Rate of Securi Repay
branch of loan amount outstan interest ty ment
(INR ding offere details
million) (INR d
million)

BRIEF DETAILS OF THE PROJECT (For project developers)

1. Technology
2. Location of project (village,
district, & state)
3. Size/capacity of the project
(kW/MW)
4. Estimated initial
investment/capex (Rs lakhs)
5. Estimated annual electricity

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generation (kWh/MWh)
6. Cost of installation (INR lakhs)
- per kW CapEx or per MW
CaPex
7. Cost of generation per unit
(INR/kWh)
8. Project implementation period
(month & year)
9. Scheduled date of
commissioning
10. Estimated no. of
households to be connected
10.1 Estimated no. of
households likely to be
impacted that had no access
to electricity previously
11. Estimated no. of micro-
enterprises to be connected
11.1 Estimated no. of women-
led micro-enterprises to be
connected
12. Estimated no. of
institutional loads to be
connected
13. Expected average sale
price realization
14. Expected pay-back
period (years)

BRIEF DETAILS OF THE PROGRAM FACILITATED (For financial

intermediaries)
1. Details of financial product
offered for the distributed
renewable energy sector
(including details on rate/tenor
offered)
2. Estimated number of
deals/projects to be closed in
next 12 months
3. Average size of each deal
(INR)
4. Estimated amount of
renewable energy based
capacity (kW) to be facilitated
5. Estimated total investment
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(CaPex) facilitated (INR)

6. Estimated annual
administration/operational
costs
7. Monitoring and evaluation
approach of the selected
portfolio
8. Estimated no. of households
likely to be affected
8.1 Estimated no. of
households likely to be
affected that had no access to
electricity previously
9. Estimated no. of micro-
enterprises likely to be
affected
9.1 Estimated no. of women-
led micro-enterprises likely to
be impacted
10. Estimated no. of
institutional loads likely to be
impacted

PROJECT COSTS
Below, please list estimated project costs. For expansions, include only the
costs associated with the expansion. Alter categories as necessary to
accurately reflect uses of funds.
INR % of total project
cost
Pre-operating expenses
Land
Building/improvements
Equipment
Working capital
Cost overrun contingency (5% of
construction cost recommended)
General development fees
Debt service reserve
Lenders fees
Interest during grace period

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Other (please elaborate if any)

Total project cost 100%

PROJECT FUNDING
Below please summarize the sources of funding for the Project costs; alter
categories as necessary to accurately reflect sources of funds.
Loan Term (years + grace period years)

INR %
Debt
Long-term loan (indicate proposed term)
Supplier financing

Subordinated debt
Shareholder subordinated loans
Third party subordinated debt

Equity % Sourc
e1
Cash equity in the form of capital
In-kind contribution
Other
Total Project Funding 100%

How much of the equity has been formally committed to the project?

USICEF FUNDING REQUEST

Why is USICEF support important for this project? Can the project progress
without USICEF support?

Please provide the full project development budget required to complete the
project, including those costs for which USICEF funding is being sought:

1 Kindly indicate citizenship of the concerned equity holder (for individuals)

and/or ultimate beneficiaries; and country of incorporation for institutional
shareholders as well as their ultimate beneficiaries ; e.g. USA, India

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Amou Rationale for the

Service nt concerned activity
Activi Time Estimati
provider need
ty period on basis
* ed
(INR)
USICEF
Total compone
nt

*USICEF will only consider those service providers who have been empaneled
by USICEF; any new service provider suggested by an applicant would have
to qualify and complete the empanelment process as laid out by the USICEF
Program Manager.

DEVELOPMENT IMPACT
Addition
Project Verification
Impact al
ed Explanation approach
area commen
result suggested
ts
1. Avoided CO2
emissions
2. No. of jobs
created
2.2 No. of
skilled jobs
created2
3. No. of
women
engaged in
income
generating
activities
4. Change in
study hours
available for
children

2 Skilled jobs include roles requiring an engineering or advanced degree,

whereas semi-skilled jobs include roles that only require technical
qualification or vocational skills (Source: CEEW and NRDC, Survey: Solar
Power Jobs: Exploring the Employment Potential in Indias Grid-Connected
Solar Market, 2014)

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5. Change in
hours
available for
entertainme
nt
6. Impact on
safety of
community
(for
example,
no. of street
lights
connected)
7. Any other
social
benefits to
the
community
8. Technology /
tools made
available to
the industry

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OTHER DETAILS (PLEASE ANSWER YES/NO)

1. Has the company been involved in any litigation or judgments, either

directly or indirectly within the last five years? If yes, please explain.
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2. Have any of the directors or significant shareholders (>20%) been
involved in any litigation or judgments, either directly or indirectly
within the last five years? If yes, please explain.

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3. Are there any pending or threatened litigation or administrative

proceedings, inquiries, or investigations, or complaints against the
company, the directors or any significant shareholders?

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-----------------------------

4. Has the company or any of the directors or significant shareholders

(>20%) been audited on any return or report filed for the last five fiscal
years? Are there any pending audits or administrative or judicial
disputes relating to taxes for any open periods?

Submitted by (Authorized Signatory): ________________________

Company name: ______________________

Date: _____________________________

Place: _____________________________

Signature: ____________________________

Company seal: _________________________

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Please email this completed application form and

the required supporting documents to
usicef@cpiclimatefinance.org.

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