to Develop Solar Parks in India ADB and USAID Has Signed MoU [ Current Affairs ]

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To develop solar parks in India Asian Development Bank (ADB) and the Unites States Agency for International Development (USAID) have signed a Memorandum of Understanding (MoU). According to this MoU 848 million US dollars will be sped to develop solar parks across India.

The collaboration of ADB and USAID will originally focus on the state of Rajasthan.

Key facts

  • The finance will support India to develop the clean energy infrastructure by cooperating on design and development of PPP investment models for solar parks.
  • It will help in the development of solar parks in support of the Government of India’s renewable energy targets financially.
  • The partnership of these two agencies will be very grateful for design and develop public-private partnership (PPP) models and study options for managing grid reliability.
  • USAID will align the technical resources of its existing Partnership to Advance Clean Energy Deployment (PACE-D) Program as per agreement.
  • USAID will support ADB’s reserves in the development of solar parks and renewable energy broadcast infrastructure in states.

About USAID

  • “The (USAID) is the United States Government agency which is primarily responsible for administering civilian foreign aid. ” United States Agency for International Development
  • It was formed in 1961.
  • And headquarter is located at Washington.
  • USAID currently operates in Africa, Asia, Latin America, the Middle East, and Eastern Europe.

- Published on: March 30, 2016