Rockefeller Foundation’s Smart Power for Rural Development India Foundation (SPRD) initiative

$4.5 million
amount Rockefeller Foundation committed it will invest for the construction and retrofitting of 100 solar power plants with minigrids, in rural Uttar Pradesh. The work will be executed by Gurgaon based OMC Power in a deal announced in Mar 2016.
Last Modified: 03-Apr-2022 12:21 AM

1,000
villages have been targeted to benefit from this financial arrangement which is part of the Foundation’s Smart Power for Rural Development India Foundation (SPRD) initiative aimed to provide reliable electricity and promote rural economic development. The foundation will partner with energy service companies (ESCOs), telecom tower operators, investors, non-governmental organizations (NGOs), and government agencies.
Last Modified: 03-Apr-2022 12:21 AM

3
Number of states that will benefit from initiative, also called the '1,000 Village Plan' - Uttar Pradesh, Bihar and Jharkhand. Within these states, the program will target districts where less than 10% of rural households are connected to the national grid. The foundation has established an independent entity Smart Power India to work closely with a wide range of stakeholders critical to developing the ecosystem needed to build, catalyze, create, and scale-up the market.
Last Modified: 03-Apr-2022 12:21 AM

$4 million
Husk Power Systems secured the largest ever debt finance to construct 140 mini-grids in rural India in Feb 2022. The IREDA loan to Smart Power India’s partner Husk represents the biggest debt financing for rural mini-grids in India till date. IREDA is a state-owned non-banking financial institution (NBFI) under the administrative control of India’s Ministry of New and Renewable Energy (MNRE). Husk Power recently reached a milestone of 100th installed mini-grid.
Last Modified: 03-Apr-2022 12:21 AM

175
Number of mini-grids installed by Smart Power India partner Tata Power as part of the initiative. The installations, as of Jan 2022, are empowering over 128,200 people as well as 10,000 shops and productive enterprises that have already begun to transform local economies, leading to new jobs and increased incomes.
Last Modified: 03-Apr-2022 12:21 AM