The US Agency for International Development (USAID) and Asian Development Bank on monday signed a pact for providing Rs 5,681 crore ($848 million) to develop solar parks across India, as part of clean energy infrastructure in the country. The agreement was signed by Jonathan Addleton, Mission Director, USAID for India and M Teresa Kho, Country Director, India Resident Mission, Asian Development Bank (ADB).
“Through the agreement, USAID will align the technical resources of two of its programs to support ADB's investments in the development of solar parks and renewable energy transmission infrastructure in states at the forefront of India's efforts to promote clean energy”, the US Embassy said in a press statement. The collaboration will initially focus on the state of Rajasthan, it said.
The cooperation will design and develop public private partnership models as well as study options for managing grid reliability.
In particular, USAID technical activities will help place investments of Rs 2,331 crore by ADB for transmission infrastructure for renewable energy deployment in western Rajasthan. USAID will also work with ADB across India with an additional Rs 3,350 crore ($500 million) of investment in the design and development of solar parks.