Montek signs US - India Energy Cooperation Program

India and US have signed a Memorandum of Understanding to promote the establishment of commercially viable clean energy infrastructure and energy efficient technology in the two countries.

The memorandum was inked by United States Trade and Development Agency Director Leocadia I. Zak, Secretary of Commerce Gary Locke and Dr. Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission on the sidelines of the CEO’s Forum on Nov 7, 2010. The day also marked the launch of U.S.-India Energy Cooperation Program (ECP).

The ECP programme has been designed keeping in mind from the recent statement of US President during his visit to India. Obama in his meeting with Indian Prime Minister had stated that, "I have come to India because I believe that the relationship between the United States and India is indispensable to addressing the challenges of our time – from creating economic opportunity for our people . . .to addressing climate change. None of this will be possible without strong cooperation between the United States and India."

The ECP programme aims to leverage private sector business resources in both the United States and India to promote commercially viable clean energy infrastructure and energy efficiency technologies.

Around 17 US companies have already consented to join the ECP as founding members, representing a broad cross-section of the U.S. energy industry.

"USTDA is pleased to have worked with U.S. energy companies, our partners in India, and the Department of Commerce to launch the U.S.-India Energy Cooperation Program", USTDA Director Leocadia I. Zak said after the launch adding, the memorandum of understanding represents a tangible commitment to participate in the development and promotion of clean energy programs to mitigate the effects of climate change, furthering the continued growth of green jobs.

USTDA and the US Department of Commerce have also given its approval to support an Efficiency and Clean Energy Exchange Program that consists of four reverse trade missions to the United States to introduce Indian officials and private sector project sponsors to U.S. clean energy and energy efficiency technologies. These exchange programmes will be aimed at focusing on the highest priority areas of clean energy and energy efficiency commercial opportunities. Each trade mission will consist of a 10-day visit that will include meetings with U.S. industry and U.S. government agencies responsible for the commercial, technological, and regulatory aspects of clean energy development.

“Through this program, private sector expertise and resources from both the countries will be mobilized to address important energy related issues in both the countries,” Ajay Singha, Executive Director, Amcham India said adding, besides advancing cooperation in clean energy and energy efficiency, the ECP will share expertise on clean energy and viable energy efficiency technologies and best practices between the two countries.