RE Ties Grow Stronger Between India and U.S.
The U.S. and India are strengthening their partnership, focusing the countries’ attention on supporting global climate goals by promoting renewable energy. The two countries have agreed to strengthen cooperation on clean energy deployment, new jobs creation, and green technology development.
The United States and India agree to enhance technical, financial, and policy assistance to develop renewable energy manufacturing capacities in both countries. In collaboration under this partnership, the U.S. and India will also cooperatively work together in third countries, notably in Africa. This joint work finds synergy with ongoing efforts – the clean energy programs the prime minister of India undertook during his 2023 visit to the United States and the Strategic Clean Energy Partnership led by the U.S. Department of Energy and Indian ministries.
The U.S. and India are collaborating to secure $1 billion in new funding through the International Bank for Reconstruction and Development (IBRD) to get this collaboration off the ground. The money will support projects aimed at expanding India’s renewable energy supply chain domestically. Manufacturing components like solar, wind, batteries, and other types of energy grid systems would form part of these projects. It aims to develop manufacturing of all the renewable technologies that are forerunners, including solar cells, wind turbine parts, and battery packs for electric vehicles.
In Africa, the partnership will explore clean energy projects, including solar power and battery storage deployment. The U.S. and India would collaborate with local African manufacturers and build public-private partnerships to develop these projects. The U.S. Development Finance Corporation and USAID would partner with the International Solar Alliance and organizations from India to significantly add solar and electric vehicle charging networks.
It concurs with both to identify pilot projects that can spur the growth of renewable energy and the diversification of supply chains. They will team up with the private sector in identifying investment opportunities and kicking off the first projects in clean energy components such as solar and wind technology.
This cooperation will commit to renewable energy and a cleaner future. It will help further deepen the relationship between the U.S. and India by working closely on scaled-up renewable energy initiatives, by serving as an example of global cooperation, and by accelerating the global clean energy transition.
