In late 2010, the U.S. Trade and Development Agency (USTDA) — which helps U.S. companies create jobs through the export of U.S. goods and services for priority development projects in emerging economies — and the U.S. Department of Commerce, together with India’s Planning Commission, launched the U.S.-India Energy Cooperation Program (ECP). The ECP aims to leverage private-sector business resources in the United States and India to promote a commercially viable clean-energy infrastructure and energy-efficiency technologies.
Initially, USTDA will support an Efficiency and Clean Energy Exchange Program that consists of four reverse trade missions to the United States, to introduce Indian officials and private-sector project sponsors to U.S. clean-energy and energy-efficiency technologies.
Also in late 2010, U.S. President Barrack Obama said the Overseas Private Investment Corporation (OPIC) would provide up to $100 million of a $300 million clean-energy investment fund designed to deepen U.S.-India cooperation and further the development of low-carbon economies throughout the South Asia region. The fund, which will invest in solar, wind, hydropower, advanced biofuels and natural-gas projects, will focus predominantly on investments in India.
The South Asia fund and the India sub-fund augment OPIC’s growing pipeline of nearly $300 million in other clean-energy and energy-efficiency projects in India.
By The Numbers
India, which has one of the highest potentials for the effective use of renewable energy, is the world’s fifth-largest producer of wind power.
Commercial primary energy consumption in India has grown by about 700 percent in the last four decades.
Over the course of its 40-year history, OPIC has provided nearly $2 billion in financing and political risk insurance to 115 projects in India.
Already, 17 U.S. companies have committed to join the ECP as founding members, representing a broad cross-section of the U.S. energy industry.
For import/export opportunities or opportunities to participate in India’s burgeoning Energy sector, please contact the National US India Chamber of Commerce:
700 17th Street, Suite 2000, 20th Floor
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