08/02/2012 | Editor: Dominik Stephan
Cash injection for green energy in India: The US administration has launched a US $ 20 million clean energy deployment programme named PACE-D to help in India's transition to a high performing, low emissions and energy secure economy.
New Delhi/India – "I am proud of our long-standing partnership in the energy sector and I know that we have the potential to strengthen this partnership through the broader PACE-D effort," Nancy J Powell, US Ambassador to India, said while announcing the launch of the Indo-US Partnership to Advance Clean Energy - Deployment (PACE-D).
The programme, to be implemented in five years, is an outcome of bilateral energy dialogue created by President Barack Obama and Prime Minister Manmohan Singh in November 2009 and will help to improve energy efficiency, increase the supply of renewable energy and adopt and accelerate deployment of cleaner fossil fuel technology.
PACE-D will work to create an environment that strengthens institutions, increases the availability of innovative financing mechanisms and enhances local capacity to propagate clean energy solutions, said Ambassador Powell.
It will also improve access to energy through renewable sources and will assist India promote grid connected renewable energy, expand rural electrification through micro grids and develop off-grid applications, such as those for fossil fuel replacement, lighting and rooftop systems.
India's Secretary, Ministry of New and Renewable Energy, Giresh Pradhan and Joint Secretary in the Ministry of Power Jyoti Arora were also present on the occasion. In June, India's Union Minister of New and Renewable Energy, Dr. Farooq Abdullah has said that India is committed to increasing the share of renewable power in the electricity mix to 15 per cent by the year 2020.
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