India, United States seek proposals for off-grid clean energy projects
Initial expressions of interest are due October 16; more information is available at PACEsetterFund.org.
Speaking at the inaugural India Off-Grid Energy Summit, Ambassador Verma also announced the launch of a new public-private partnership that will work to mobilize $41 million in finance to enable clean energy entrepreneurs to sustain and scale their business models beyond the early stage targeted by the PACEsetter Fund.
This effort, a partnership between New Ventures India, Insitor Management, the Global Social Business Incubator at Santa Clara University, and USAID/India, aims to help 1 million Indians gain access to electricity through off-grid clean energy solutions.
Taken together, these two announcements advance President Barack Obama and Prime Minister Narendra Modi’s commitment to embark on a new and enhanced strategic partnership on energy security, clean energy, and climate change. They are major milestones for Promoting Energy Access through Clean Energy (PEACE), a PACE initiative focused on harnessing commercial enterprise to bring clean energy access to unserved and underserved individuals and communities.
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