India and the U.S. are partnering on a $1b initiative to strengthen India’s clean energy supply chain.
The funding, provided through the International Bank for Reconstruction and Development (IBRD), will focus on expanding the manufacturing of key green technologies such as solar panels, wind turbines, batteries, and energy-efficient products like air conditioners and ceiling fans.
This collaboration aims to accelerate the adoption of clean energy, create jobs, and help meet climate goals.
Both nations are enhancing technical, financial, and policy support to boost their capacity for producing and distributing clean energy technologies. In addition to working domestically, the U.S. and India plan to collaborate in other regions, particularly Africa, to support clean energy projects.
After discussions between Indian Prime Minister Narendra Modi and U.S. President Joe Biden at the QUAD summit, both governments agreed to work with industry leaders to identify immediate investment opportunities.
These efforts will focus on increasing production in areas such as solar wafer production, advanced solar cells, wind turbine parts, and energy storage solutions. There is also a focus on partnering with the private sector for projects, including initiatives in Africa.
One key element of the agreement is a plan to work with African countries on clean energy development, particularly solar power and battery storage technologies.
India and the U.S. will collaborate with local manufacturers and governments to implement these projects.
The U.S. International Development Finance Corporation (DFC) and the U.S. Agency for International Development (USAID) will work alongside India’s International Solar Alliance. Through this partnership, they will set up solar power and electric vehicle (EV) charging stations near healthcare centres in Africa, improving energy access and public health.
This partnership reflects the joint efforts of India and the U.S. to drive global clean energy transitions, with Africa seen as a key region for future investment.
