According to US energy secretary Jennifer Granholm, First Solar would spend “billions of dollars” on solar panel manufacturing in India that won’t use components from China. Additionally, she mentioned that Tesla is in talks to invest in India.
“India adds the idea of size, while the US offers its laboratories and the initiatives we are taking to encourage production. In an interview, Granholm referred to support from the US Development Finance Corporation for the renewables sector as the combination that allows both parties achieve their aims. She was in the nation’s capital on Tuesday for the India-US Strategic Clean Energy Partnership meeting.
The secretary responded that Tesla is in discussions with the Indian government when questioned about the automaker’s ambitions to invest in India in light of the recent meeting between Prime Minister Narendra Modi and Elon Musk. Musk had previously stated that Tesla would be in India “as soon as humanly possible.”
After meeting with India’s oil and gas minister Hardeep Puri, Granholm stated, “The US views India, and rightly so, as the most essential partner in the clean energy transition.” India has invested a substantial sum in green hydrogen.
RK Singh, the minister of state for new and renewable energy, was also introduced by the US energy secretary. You might remember that during Modi’s recent visit to the US, the two countries agreed to establish cutting-edge investment platforms that will significantly reduce the cost of capital and draw in large amounts of private international funding to hasten the deployment of Greenfield renewable energy, battery storage, and emerging green technology projects in India.
Also read, HCL Group planning $300 Million Semicon foray, say sources.
India-US to work together on solar energy:
According to the India-US joint declaration released at the summit, the US and India would work to create a ground-breaking, multi-billion dollar investment platform targeted at providing catalytic funding and derisking support for such projects.
According to its website, First Solar, founded in 1999, is a prominent US solar technology firm and a global supplier of ethically made eco-efficient solar modules that advance the battle against climate change. It stands out among the top 10 solar producers since it is the only US-based business that does not get its products from China. The next generation of solar technologies, represented as First Solar’s superior thin film photovoltaic (PV) modules, offer a competitive, high-performance, lower-carbon substitute for traditional crystalline silicon PV panels.
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