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USD 2.38 Billion Mobilized for Clean Energy Finance: Since PACE’s inception, the seven U.S. agencies working on the PACE initiatives have mobilized about USD 2.38 billion in public and private resources for clean energy projects in India. Promoting Energy Access through Clean Energy: In September 2013, the Ministry of New and Renewable Energy (MNRE) and USDOE signed a Memorandum of Understanding (MOU) to launch a new initiative—Promoting Energy Access through Clean Energy (PEACE)—as a new track under the PACE Program. PEACE aims to harness commercial enterprise to bring clean energy access to un-served and underserved Indian villages, capture lessons learned, and develop best practices. Clean Energy Access Network (CLEAN): USAID has committed USD 1 million for CLEAN, a new initiative under PEACE. CLEAN is an alliance of businesses, not-for-profit organizations, and governments to strengthen India’s ecosystem for market driven approaches to energy access. A consortium of ten experienced stakeholders within the decentralized clean energy sector signed an Alliance Charter as partners for CLEAN, which will be initially housed at Small Scale Sustainable Infrastructure Development Fund (S3IDF). Funding for Clean Energy in India: In 2013/2014, OPIC disbursed the full amount of a USD 250 million commitment to one of India’s premier infrastructure lenders to encourage expansion of its lending to renewable energy and infrastructure projects in India. In addition, in early 2014, OPIC made its initial disbursement under a direct loan to an Indian operator of solar-powered telecommunication towers. U.S-India Joint Clean Energy Research and Development Center: The three bi-national consortia are delivering disruptive research in the areas of solar energy, buildings efficiency, and advanced biofuels. During two years of collaborative work and cross-country cooperation and innovation, researchers from national laboratories, universities and industry partners have submitted approximately 100 papers to journals and proceedings. Development of Smart Grid: The USAID PACE-D TA Program supported the Ministry of Power (MOP) to prepare the draft smart grid regulatory framework which was submitted to the Forum of Regulators for consideration. The proposed regulations have been developed by the program under the guidance of a technical committee set up by the MOP. An enabling regulatory environment will help drive the overall smart grid business in India through provision of funds and incentives to ensure effective and timely adoption of such solutions by utilities and deployment at the customer end. Fifth Clean Energy Ministerial: The fifth Clean Energy Ministerial (CEM) took place on May 12 and 13, 2014, in Seoul, South Korea. India was represented by Secretaries of the Planning Commission, MOP, and the MNRE. PACE-D activities in renewable energy, integration, and efficiency are complemented by multilateral activities taking place through CEM initiatives. U.S.-India Collaboration on Smart and Efficient Air-Conditioning and Space Cooling: Launched in June 2013, the U.S. and Indian governments are working together to advance policies and innovative approaches to drive mass deployment and rapid uptake of high-efficiency cooling equipment and technologies. U.S.-India Partnership to Advance Clean Energy (PACE) 2 Recent HighlightsPDF Image | Initiative of the U.S.-India Energy Dialogue
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