Washington takes a shine to Delhi’s solar mission

A $40 million US-India Catalytic Solar Finance Programme will aim at providing liquidity to smaller-scale renewable energy investments, particularly in poorer villages that are not connected to the grid
NEW DELHI: India and the US have announced a joint initiative to mobilise up to $400 million for lighting up a million Indian households by 2020 with renewable power.
According to the joint statement issued after discussions between PM Narendra Modi and US President Barack Obama, both governments will equally set up a $20 million US-India Clean Energy Finance initiative for mobilising funding for New Delhi’s renewable energy plans.
Both have also committed to establishing the US-India Clean Energy Hub as the coordinating mechanism to focus US government efforts to increase renewable energy investments in India in partnership with leading Indian financial institutions. Read More…