Obama hints at more finance for Indian solar

Facebook
Twitter
LinkedIn
Reddit
Email

The leaders of the US and India have reasserted their ongoing clean energy partnership with President Obama hinting at additional financial support during meetings in India.

The two countries pledged to expand joint research efforts and financing agreements.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Prime Minister Modi has pledged to direct US$100 billion of investment into solar with the goal of deploying 100GW by 2022.

The US Export-Import Bank has already committed to a US$1 billion loan agreement for solar in India. Obama hinted that financial assistance could be expanded.

“I’m also pleased that we agreed to a number of important steps to promote clean energy and to confront climate change. We very much support India’s ambitious goal for solar energy, and stand ready to speed this expansion with additional financing. We’re also launching new joint projects to improve air quality in Indian cities,” said President Obama in New Delhi on Sunday.

A statement by the Indian government said: “President Obama conveyed the potential availability of US Government official financing in this area, consistent with its policies, to support private sector involvement for those entities in contributing to India’s clean energy requirements.”

Last year India abandoned an an anti-dumping case against US solar equipment. That decision and the softening of domestic content rules has boosted the outlook for the market. US firms SunEdison and First Solar have already enjoyed some success in the country.

According to data published on Friday by Bloomberg New Energy Finance, India attracted US$7.9 billion of clean energy investment in 2014. BNEF estimated that it will top US$10 billion 2015. The report identified solar as the main driver behind the growth.

Read Next

September 12, 2025
Colombian energy supplier Celsia is seeking more than US$1.2 billion in investment to build wind and solar generation projects in Peru. 
September 12, 2025
German trade association BSW-Solar has called the German government for a simplified, standardised and more digitalised grid access for solar PV and energy storage operators.
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.
Premium
September 12, 2025
Vote Solar's Sean Garren tells PV Tech Premium that Georgia Power's latest IRP is 'skewed so heavily towards fossil fuels'.
September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines