Monday, 12 October 2015 16:43

India looks to US for technology and funding for renewable start-ups

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At the recently conducted ‘US-India Energy Partnership Summit’ in Washington DC, Indian solar experts mooted a renewable energy partnership between India and the US — in technology and funding — with the aim of benefitting renewable start-ups.

Calling for US investments in India, Pranav Mehta, Chairman, National Solar Energy Federation of India (NSEFI), highlighted the opportunities in India.

The conference also discussed the planned technology partnership and the possibility of commercialising the commercialisation of the Concentrated Solar Power (CSP) technology with storage, patented by the Massachusetts Institute of Technology.

Said Mehta: “The Ministry of New and Renewable Energy has shown willingness to share 50 per cent of the cost for the technology demonstration project of the CSP technology, the balance may come from the US government and other agencies, possibly through the PACE-D programme or USAID.”

At a Clean Energy Finance meet organised by the Confederation of Indian Industries and American Council for Renewable Energy, deliberations were made on the finance available for clean energy, and the need to facilitate ‘affordable finance’.

Additional Info

  • News Section: Technology
  • Month: October
  • Year: 2015
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