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Clean Energy Co-Operation Between India and US

Press Information Bureau:  March 03, 2015

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

  • Launched "Innovative Finance Forum".
  • Established "PACESetter Funds" to support innovative clean energy access projects.
  • Both the countries desire to expand current Partnership to Advance Clean Energy Development (PACE-D).
  • Renewed commitment to expanding Partnership to Advance Clean Energy Research (PACE-R).

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 today.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

x IBEF : India Brand Equity Foundation