US Plans To Invest USD 3.8 Billion In India’s RE Infra

US Plans To Invest USD 3.8 Billion In India’s RE Infra

US Ambassador Eric Garcetti recently shared International Development Finance Corporation plans to invest USD 3.8 billion to meet India’s renewable energy and infrastructure goals. 

He said, while addressing an event on ‘Indo-US Space Co-operation’ in Mumbai, he extended support to support renewable energy and infrastructure goals.

He underscored the collaboration between the US and India in critical minerals, semiconductors, defence, and space.
Garcetti stated, “The United States International Development Finance Corporation is investing USD 3.8 billion to support India’s renewable energy and infrastructure objectives, alongside initiatives in agriculture, healthcare, and financial services.”

Earlier this year, US Department of Energy (DOE) has announced a $71 million investment, including $16 million from the President’s Bipartisan Infrastructure Law, in research, development, and demonstration projects to grow the network of domestic manufacturers across the US solar energy supply chain.

The selected projects will address gaps in the domestic solar manufacturing capacity for the supply chain including equipment, silicon ingots and wafers, and both silicon and thin-film solar cell manufacturing. The projects will also open new markets for solar technologies such as dual-use photovoltaic (PV) applications, including building-integrated PV and agrivoltaics.