We identify, structure, and facilitate the right funding mix for projects across five sectors — connecting founders and developers with the most suitable sources from India and internationally.
Every project has a unique financial profile. We assess your situation and identify the optimal funding mix — whether debt, equity, grants, or international capital.
Project Finance & Debt
Debt FundingStructured debt solutions for capital-intensive projects — from IREDA and SIDBI term loans to NaBFID project bonds and commercial bank syndication. We assess your project's debt serviceability and connect you with the right lender.
Equity & PE / VC
Equity CapitalFrom early-stage venture capital for deep-tech clean energy startups to private equity for mature renewable energy platforms and infrastructure portfolios — we identify the right equity partner at the right stage.
Government Grants & Subsidies
Government SchemesIndia's government funding landscape for clean energy and innovation is vast but complex. We cut through the noise — identifying the schemes you qualify for and guiding you through application and disbursement.
International & ESG Funding
International CapitalGlobal development finance institutions and ESG-mandated funds are increasingly deploying capital into India's energy transition. We facilitate access to these international pools that most domestic companies cannot reach independently.
Deep working knowledge of India's major funding schemes across clean energy, manufacturing, mobility, and rural electrification.
MNRE Schemes
The Ministry of New and Renewable Energy (MNRE) administers India's primary clean energy incentive programmes. Qualifying projects receive capital subsidies, viability gap funding, and preferential tariffs that significantly improve project economics.
PM-KUSUM
Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan — solar pumps and grid-connected solar plants for farmers. Keystones facilitates both Component A (standalone solar pumps) and Component C (solarisation of existing grid-connected pumps).
RDSS
Revamped Distribution Sector Scheme — ₹3.03 lakh crore for DISCOM infrastructure upgrades, smart metering, and feeder separation. We connect EPC companies with DISCOM procurement opportunities under RDSS.
ALMM
Approved List of Models and Manufacturers — mandatory for projects receiving government subsidies or PSU procurement. We advise on ALMM-compliant module sourcing to ensure scheme eligibility.
National Green Hydrogen Mission
₹19,744 crore committed to NGHM. Keystones facilitates access to SIGHT incentives (Strategic Interventions for Green Hydrogen Transition) for electrolyser manufacturers and green hydrogen producers.
We assess your project against scheme eligibility criteria, assist in DPR preparation for government submissions, and guide you through the approval and fund disbursement process.
SIDBI — Small Industries Development Bank of India
SIDBI is India's principal financial institution for MSME credit, expanded significantly into clean energy and deep-tech financing. Attractive interest rates and longer repayment tenors for qualifying businesses.
SIDBI Green Finance
Concessional loans for MSMEs adopting energy efficiency measures, installing rooftop solar, and investing in cleaner manufacturing processes. Ticket sizes: ₹10 lakh to ₹100 crore.
SIDBI Startup Mitra
Early-stage funding for clean energy startups — gap financing between angel rounds and Series A. Keystones assists in structuring the application and financial documentation.
Eligibility Criteria (General)
We prepare your DPR and help structure the loan application to maximise approval probability.
PLI — Production Linked Incentive
The PLI scheme provides financial incentives to manufacturers based on incremental sales over a base year. Keystones helps manufacturers in solar, EV, and drone sectors access PLI incentives and structure applications.
PLI for Solar PV Modules
₹24,000 crore PLI for high-efficiency solar PV manufacturing. Targets 65 GW of additional capacity. Incentive: 4–5% on eligible sales for 5 years.
PLI for Drones
₹120 crore PLI for drone manufacturers — covering civilian, agriculture, and defence segments. Keystones assists drone startups in qualifying and structuring incentive access.
FAME II — EV Subsidy Programme
Faster Adoption and Manufacturing of Electric Vehicles Phase II provides purchase subsidies and charging infrastructure grants. We connect EV startups and fleet operators with FAME II benefits.
FAME II for Fleet Operators
Subsidies for electric buses, 3-wheelers, and 2-wheelers for commercial use. We help fleet operators structure the right financing blend combining FAME subsidies with term loans.
Charging Infrastructure Grants
Public EV charging station grants under FAME II for qualified operators. Keystones advises on site selection, grid connectivity, and grant application.
IREDA — Indian Renewable Energy Development Agency
India's specialised lender for renewable energy projects — competitive interest rates and longest repayment tenors available for solar, wind, and clean energy projects. Typically 15–20 year repayment periods.
IREDA Term Loans
Available for solar, wind, small hydro, biomass, and energy storage projects. Loan amounts from ₹1 crore upwards. Debt-to-equity ratio up to 70:30 for eligible projects.
IREDA Refinancing
Refinancing of existing high-cost project debt through IREDA's lower-cost window — improving project viability for assets already under construction or operation.
REC — Renewable Energy Certificates
RECs allow renewable energy generators to monetise the environmental attribute of their generation separately from energy itself. Keystones advises on REC eligibility, registration on NLDC/POSOCO, and trading strategy on IEX.
REC Trading Strategy
We advise generators on when to sell RECs on the IEX spot market versus longer-term bilateral contracts — optimising revenue from the green attribute alongside energy revenue.
REC income can improve debt coverage ratios and make borderline IREDA applications viable. We model this combination as part of our funding advisory.
Development Finance Institutions
International DFIs are deploying billions into India's energy transition. Their rates, tenors, and covenants are often superior to domestic alternatives — but accessing them requires the right structure, documentation, and relationships.
ADB — Asian Development Bank
ADB has committed over $8 billion to India's energy sector. Key instruments include sovereign loans, non-sovereign private sector loans, guarantees, and co-financing with commercial lenders.
IFC — International Finance Corporation
IFC (World Bank Group) provides senior loans, mezzanine debt, and equity for private sector clean energy projects in India. Ticket sizes typically $20M–$200M. Strong preference for ESG-framed projects.
AIIB — Asian Infrastructure Investment Bank
AIIB has approved over $3 billion in India projects. Offers loans for green infrastructure, renewable energy, and smart city development. Can co-finance with ADB or World Bank for larger projects.
World Bank GEF
Global Environment Facility grants and concessional financing for projects with global environmental benefits — particularly relevant for green hydrogen, large-scale solar, and biodiversity-linked projects.
International Green Bonds & ESG PE
We facilitate access to international green bond investors and ESG-mandated PE funds investing in India — through our network of financial intermediaries and impact investment platforms.
We don't just make introductions — we work with you to build a fundable story, identify the right sources, and manage the process through to disbursement.
Assess
We review your project, financials, sector, stage, and risk profile to determine the most suitable funding type and the realistic universe of funders who will be a fit.
Structure
We help you build the information memorandum, DPR, or pitch deck required to approach lenders and investors professionally — structured for the specific audience and instrument.
Connect
We make warm introductions to the most relevant lenders, grant administrators, or investors and facilitate negotiations — staying engaged through term sheet, due diligence, and closing.
Deep experience in funding facilitation has taught us what makes a deal close — and what doesn't. We've built our process around that knowledge.
Multi-Source Access
A single point of contact to access domestic banks, government schemes, PE funds, DFIs, and international green bond markets — no need to run separate outreach processes for each source.
NCNDA-Protected Process
All funding discussions are protected by signed confidentiality agreements. Your financial details and project information remain secure throughout the entire facilitation process.
Faster Closings
Our pre-existing relationships with fund managers and lenders reduce the cold-approach timeline significantly — warm introductions and prepared documentation move deals faster.
Optimal Capital Mix
We model the ideal debt-equity-grant combination for your specific project to minimise cost of capital and maximise returns — including REC revenue, IREDA concessional debt, and grant stacking.
Have a Renewable Energy Project That Needs an EPC?
Our Renewable Energy pillar can run simultaneously with funding facilitation — so your project gets the right contractor and the right capital at the same time.
Share your project or funding need and we will assess the right sources, structure the approach, and make the introductions — with full confidentiality.
Discuss Your Funding Need →