US, India believe clean energy future makes clear economic sense

New York, Jan.28 (ANI): The United States and India are both committed to charting a clean energy future because it makes clear economic sense and because it supports mutual objectives to help slow the pace of climate change, a senior official of the Obama administration has said.

Addressing a distinguished gathering of intellectuals and academia at New York's Syracruse University earlier this week, Robert O. Blake, Jr., Assistant Secretary of State for South and Central Asian Affairs, said: "We believe there are important synergies we can exploit to accelerate our transition to a low carbon future."

Blake further said that while private sector linkages thrive, on a government level, the United States and India "have committed to collaborate on innovative clean energy technologies through the bilateral Partnership to Advance Clean Energy, or PACE."

"Under this initiative, we have already begun to undertake joint research efforts and the deployment of clean energy resources, such as solar, advanced bio-fuels, shale gas, and smart grids," he said.

"Our efforts to promote and improve access to cleaner electricity will ensure that children can continue to study after the sun has set and small businessmen and women will have more opportunities to prosper. This cooperation will help to create green jobs at home, and improve living standards and stimulate the economy in India's villages and urban centers," Blake said.

He said that Washington seeks to encourage private sector participation in the development of India's clean energy future.

"Our bilateral commitment to improve access to clean energy is also manifested by a public-private partnership to promote green building technologies. Prominent global companies like Wipro, Infosys, Walmart, Target, and Marriott are leading the way to commercialize and implement these technologies and practices," he said.

He revealed that the Overseas Private Investment Corporation has contributed 100 million dollars to the 300 million dollar Global Environment Fund in South Asia Clean Energy Fund, which will target India-only investment in clean energy.

The Export-Import Bank also signed a five billion dollar Memorandum of Understanding with Reliance Power to support the development of gas-fired electricity generating units and renewable energy facilities, Blake said. (ANI)