Pratik Das, Pune
India and the U.S. are trying to get $1 billion from the International Bank for Reconstruction and Development (IBRD) to create a partnership that will boost the production of clean energy parts and build a strong global supply chain for clean energy. The White House shared this after PM Modi and President Joe Biden had talks during the Quad Summit.
The money will help India improve its factories so it can make important parts for things like solar panels, wind turbines, batteries, power grids, and energy-saving air conditioners and fans.
At their meeting at President Biden’s home in Wilmington, Delaware, the two leaders discussed ways to make US-India relations stronger and how to address regional and global problems.
“The US and India are very dedicated to working together on national and economic security,” the White House said in a statement.
“Both the US and India aim to work together more and help each other in areas like technology, money, and policies to boost clean energy technology and manufacturing in both countries.”
The goal is to produce clean energy and make it easier to access. They plan to work together in developing countries, especially focusing on partnerships in Africa. Both governments will team up with private companies and other organizations to make these projects happen. They also plan to work with industry leaders to find investment opportunities in different clean energy areas.
Both countries also plan to create a partnership with Africa, focusing on solar energy and battery storage.
“This plan is meant to guide early teamwork on projects and will help create a long-term plan. It includes working together to set up regular meetings and goals for this partnership,” said the White House.
The White House said that, over time, the U.S. and India want to find more money for important clean energy manufacturing areas. They plan to use both public and private funding and create new ways to finance clean energy projects.
They also mentioned that the U.S. and India will collaborate with government agencies, communities, and businesses to identify specific pilot projects in clean energy. The two countries are committed to working with industry leaders to start and grow this partnership.