Monday
February 28
2022

US Funding USD $500 Million for Solar Panel Manufacturing in India

The Quad leaders have renewed their commitment to promote a free, open, rules-based order in the Indo-Pacific region, the White House said on Thursday, while emphasising that the US is funding USD 500 million to help American companies manufacture solar panels in India.

In November 2017, the US, Australia, India and Japan gave shape to the long-pending proposal of setting up the Quad to develop a new strategy to keep the critical sea routes in the Indo-Pacific free of any influence, amidst China’s growing military presence in the strategic region.

A detailed report issued by National Security Advisor Jake Sullivan, on the first anniversary of the presidential executive order on America’s Supply Chain, prominently notes the importance of Quad and other international partners in addressing the supply chain issue.

Photo courtesy of World Bank Photo Collection.

Source: The Economic Times (link opens in a new window)

Categories
Energy, Finance
Tags
clean energy, climate finance, funding, renewable energy, solar power, supply chain, sustainability