India, U.S. to elevate bilateral support to build secure global clean energy supply chains: White House
The Hindu
U.S. and India announce $1 billion partnership for clean energy manufacturing, aiming to lead global clean economic development.
The U.S. and India plan to elevate bilateral technical, financial, and policy support to expand complementary manufacturing capacity for building on existing clean energy cooperation between the two nations, according to the White House.
The announcement on Saturday (September 21, 2024) came after the meeting of Prime Minister Narendra Modi and U.S. President Joe Biden at Greenville, Delaware.
Prime Minister Modi is in the U.S. on a three-day visit.
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To launch the partnership for establishing a "shared, resilient, and cutting-edge techno-industrial base" centred on innovative clean energy manufacturing techniques, the U.S. and India are "working to unlock $1 billion in new multilateral finance through the International Bank for Reconstruction and Development (IBRD) for projects, including catalysing India’s domestic clean energy supply chain buildout", the White House said in a statement.
The partnership will look to expand complementary U.S. and Indian manufacturing capacity for clean energy technologies and components and lay the groundwork for enhanced cooperation in third countries, with a focus on partnerships in Africa.
This effort will build on existing clean energy cooperation between the U.S. and India, including clean energy initiatives launched during Prime Minister Modi’s visit to the U.S. in 2023, and the Strategic Clean Energy Partnership led by the U.S. Department of Energy and Government of India ministries, among other initiatives.
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