India & US to launch new initiative on clean energy

Even as India had recently indicated that it would increase energy imports from the United States beyond the current $4 billion, the US has despatched its assistant secretary of state for energy resources (ENR) Francis R. Fannon to India from September 30 to October 6. The visit is to launch “the Flexible Resources Initiative (FRI) under the US-India Clean Energy Finance Task Force”.

In a statement, the US said, “Assistant secretary Fannon will meet senior Indian government energy officials and private sector representatives to launch the FRI under the US-India Clean Energy Finance Task Force. FRI will execute the United States and India’s shared vision for Indo-Pacific economic growth fuelled by clean energy. FRI is also a component of the broader US-led Asia Edge (Enhancing Development and Growth through Energy) Initiative, which is a whole-of-government effort to grow sustainable and secure energy markets throughout the IndoPacific.

“Mr Fannon will co-lead efforts, along with the Federal Energy Regulatory Commission (FERC), as well as partners from US department of energy and the US agency for international development. India’s ministry of power will host, along with the ministry of new and renewable energy, the Indian Central Electricity Regulatory Commission, and the Indian Petroleum and Natural Gas Regulatory Board. Together they will strengthen India’s energy security by jointly working toward a national power system for India that is stable, reliable, and affordable,” it added.

The United States added, “FRI will signal new investment opportunities for a broad range of flexible resources in India such as natural gas and batteries”