U.S.-India Clean Energy Mission with a $1 Billion Investment

The United States and India share a significant commitment to collaborating on issues of national and economic security. A crucial aspect of this partnership is harnessing the benefits of the clean energy transition, which includes creating high-quality jobs for our populations, accelerating global clean energy deployment, and achieving climate goals.

U.S.-India Clean Energy Cooperation

The U.S. and India are expanding bilateral technical, financial, and policy support to enhance manufacturing capabilities for clean energy technologies and their components. This initiative also lays the groundwork for increased cooperation in third countries, particularly focusing on partnerships in Africa. This effort will strengthen the existing clean energy cooperation between the two nations, including initiatives launched during Prime Minister Modi's visit to the U.S. in 2023.

Funding for Clean Energy Supply Chain

To launch this partnership, the U.S. and India are working to unlock $1 billion in new multilateral financing through the International Bank for Reconstruction and Development (IBRD). This funding aims to promote the domestic clean energy supply chain by focusing on solar, wind, battery, energy grid systems, and high-efficiency air conditioners and ceiling fan supply chains.

Identifying Pilot Projects and Promoting Investment

U.S. and Indian government agencies, along with civil society, the private sector, philanthropic organizations, and multilateral development banks, will identify pilot projects across various segments of the clean energy value chain that meet eligibility criteria and contribute to expanding supply chains in relevant sectors. Both countries will also collaborate with industry leaders to promote investment in these areas.

Investment Opportunities under the Partnership

• Solar wafers and wafer manufacturing equipment
• Next-generation solar cells
• Wind turbine components
• Power transmission line components (cabling, transformers, etc.)
• Energy storage components (batteries)
• Battery packs for electric buses and vehicles
• High-efficiency air conditioners and ceiling fan components

U.S.-India Cooperation in Africa

India and the U.S. will also collaborate in Africa, where there are existing political commitments to clean energy deployment. Together, we will evaluate opportunities for deploying solar and EV charging networks and implement successful projects. This initiative aims to establish significant investment and global leadership in clean energy supply chains. This roadmap will guide enhanced collaboration on clean energy projects between the two countries in the near future.