World Ministry of External Affairs
USD$1 billion in new multilateral finance through IBRD for clean energy supply chains
The U.S.
and India have agreed to collaborate on building safe and secure global clean energy supply chains, focusing on expanding manufacturing capacity for clean energy technologies and components, with an initial commitment of USD$1 billion in multilateral finance.
Who it concerns: United States, India, U.S. Department of Energy, Government of India ministries, U.S. Development Finance Corporation (DFC), Indian private equity fund manager Eversource Capital, International Solar Alliance (ISA), African partners
What was agreed
- USD$1 billion in new multilateral finance through IBRD
- focus on solar, wind, battery, energy grid systems, and high-efficiency air conditioner and ceiling fan supply chains
- initial focuses on solar wafers, wind turbine nacelle components, power transmission line components, energy storage components, battery packs for 2- and 3-wheel EVs, high-efficiency air conditioners and ceiling fans
- India's Green Transition Fund
- Eversource Capital's $900 million fund
Also in the document
- USD$1 billion in new multilateral finance through IBRD
- focus on specific clean energy components including solar wafers, wind turbine parts, and EV battery packs
- India's Production Linked Incentive Schemes have invested over $4.5 billion
How this was written
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The original document
Ministry of External Affairs — bilateral & trade documents
Agreement · Ref. 38322 · 21 Sep 2024
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