India and USA have undertaken new initiatives to enhance clean energy cooperation as follows: i. Launched Innovative Finance Forum. ii. Established PACESetter Funds to support innovative clean energy access projects. iii. Both the countries desire to expand current Partnership to Advance Clean Energy Development (PACE-D). iv. 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. RM/RS-USQ704-RS
