As part of the Partnership to Advance Clean Energy (PACE), the US and India have proposed a research and development (R&D) centre, which will mobilise $25 million in department of energy funding. Over five years, the R&D will focus on areas like building efficiency, solar energy, and advanced biofuels.
Disclosing this at the Confederation of Indian Industry (CII)’s 2nd annual US-India GEMS (growth in emerging metropolitan sectors) here on Wednesday, Francisco Sanchez, undersecretary for commerce for international trade, US department of commerce, said it was the first venture of its kind that his energy department had undertaken with a foreign government.
“Specifically, the US Export-Import Bank and the Overseas Private Investment Corporation have invested hundreds of millions in solar projects in India. These commitments are important. But, we also need partnership in the private sector to fulfil this promise,” he added.
A trade delegation of US companies (present at Solarcon) was involved in a variety of clean technologies. They had the expertise and products to help GEMS meet their energy needs and achieve their economic development plans, Sanchez said.
Stating that in 20 years, 68 cities in India were expected to have a population of 1 million people, he said, over the same period, it was expected that 70 per cent of India’s growth was going to come from the country’s urban sectors.