The US and India are set to enhance their collaboration in clean energy manufacturing, aiming to expand their complementary manufacturing capacities, according to a statement from the White House.
This announcement followed a meeting between Prime Minister Narendra Modi and US President Joe Biden in Greenville, Delaware, during Modi's three-day visit to the US.
The partnership will focus on establishing a "shared, resilient, and cutting-edge techno-industrial base" centred on innovative clean energy manufacturing techniques.
The two nations are working to unlock USD 1 billion in new multilateral finance through the International Bank for Reconstruction and Development (IBRD) to support projects that will catalyse India’s domestic clean energy supply chain.
This initiative aims to enhance US and Indian manufacturing capacity for clean energy technologies and components, while also laying the groundwork for cooperation in third countries, particularly in Africa.
It builds on existing clean energy cooperation, including initiatives launched during Modi’s 2023 visit to the US and the Strategic Clean Energy Partnership led by the US Department of Energy and Indian ministries.
The partnership is described as a strong example for global leadership in clean economic development in the 21st century, with both nations committed to deepening collaboration on issues of national and economic security.
They aim to capture the benefits of the clean energy transition, create high-quality jobs, accelerate global clean energy deployment, and achieve climate goals.
The US and India also plan to collaborate with government agencies, civil society, and the private sector to identify pilot projects across the clean energy value chain, with industry leaders involved in launching and scaling this new partnership.
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