Clean Energy Co-Operation Between India and USA

There is a new agreement between the USA and India to promote clean energy and solar power
India has tremendous solar resources available

Clean Energy Agreement USA and India.  (Solar Thermal Magazine)

Recently during a visit to India by U.S. president Obama, the two countries agreed to cooperate on clean energy as a priority for both countries. The agreement covers both financing and research options.

As a result of this agreement, a  joint Indo-US PACESetter Fund has been established with a contribution of US$ 4 million (INR 25 crores) from each side for providing grants for seed capital for innovative clean energy projects. There is no financial commitment from Government of India for PACE-D and PACE-R.

This was stated by Sh. Piyush Goyal, Minister of state for Power, Coal & New and Renewable Energy (Independent Charge) in a written reply to a question in the Rajya Sabha.

India and USA have undertaken new initiatives to enhance clean energy cooperation as follows:

i. Launched “Innovative Finance Forum”.

ii. Established “PACESetter Funds” to support innovative clean energy access projects.

iii. Both the countries desire to expand current Partnership to Advance Clean Energy Development (PACE-D).

iv. Renewed commitment to expanding Partnership to Advance Clean Energy Research (PACE-R).

 

About Gordon Smith
Gordon's expertise in the area of industrial energy efficiency and alternative energy. He is an experienced electrical engineer with a Masters degree in Alternative Energy technology. He is the co-founder of several renewable energy media sites including Solar Thermal Magazine.