NEW DELHI: The US says it’s putting together a group of countries that could help India with financing its massive goal of producing 450 GW of renewable energy by 2030.
In a chat between US President Joe Biden’s climate czar John Kerry and former energy secretary Ernest Moniz over the weekend, Kerry said, “India has a plan to produce about 450 GW of renewable power by 2030, it’s a very ambitious goal. It’s a great goal but they need about $600 billion in order to be able to help make that kind of a transition. … I’ve put together a small consortia of a number of countries that are prepared to help India with some of the finance and transition.”
There is no clarity on which countries or private sector entities might be roped in for the effort. Kerry added that he was talking to “major investment houses and asset managers in our country to try to determine how much private sector capital can be directed in the right place here so that we can make this transition faster.”
Indian officials said this was still “work in progress”. Some clarity may be expected when a Biden-initiated climate summit is held with the world’s top carbon-emitters on April 22. However, Kerry’s assertion means the fundamentals of India-US cooperation would shift to technology, innovation and climate.
Source From : Times Of India