ADB, USAID to jointly support solar programme

28 March, New Delhi

The Asian Development Bank (ADB) and the United States Agency for International Development (USAID) today signed a Memorandum of Understanding (MoU) to collaborate on supporting India’s ambitious expansion plans for clean energy infrastructure.

Under the terms of the MoU, USAID will align components of their technical assistance with ADB’s current and planned investments in renewable energy. “USAID will work with ADB to assist MNRE and select states in the design and development of public private partnership (PPP) investment models for solar parks,” ADB said in a statement.

ADB is currently financing the development of power evacuation infrastructure for solar parks in Gujarat and Rajasthan.”ADB welcomes this collaboration with USAID that brings together our respective strengths, expertise, and resources to the common objective of supporting India’s targets for clean energy expansion,” said M Teresa Kho, Country Director for ADB in India, who signed the MoU on behalf of the development bank.

India has requested ADB to provide financing of up to Rs 500 million each to support rooftop solar and transmission projects to connect solar parks in multiple states under National Solar Mission.