Obama
backs India's solar goals, seeks support for climate
talks
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[January 26, 2015]
By Krishna N. Das
NEW DELHI (Reuters) - U.S. President Barack
Obama on Sunday offered to help finance India's ambitious solar energy
target and sought Prime Minister Narendra Modi's support at global
climate talks in Paris later this year.
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India is the world's third-largest greenhouse gas emitter and often
acts as the voice of the world's developing countries in United
Nations talks on everything from climate change to economic
cooperation.
It is reluctant to commit to emission targets on the ground that
this could hinder economic growth, which is vital to lifting
millions of Indians out of poverty. Instead, Modi has made it a
priority to expand India's renewable energy capacity and lessen the
need for polluting fossil fuels.
"We very much support India’s ambitious goal for solar energy, and
stand ready to speed this expansion with additional financing,"
Obama said in a joint press conference with Modi on the first day of
his three-day visit to New Delhi.
India is seeking investments of $100 billion over seven years to
boost the country's solar energy capacity by 33 times to 100,000
megawatts.
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The United Nations asked governments on Thursday to submit plans to
cut greenhouse gas emissions as the building blocks of a deal due in
Paris in December to limit global warming, after scientists said
2014 was the hottest year on record.
"The prime minister and I made a personal commitment to work
together to pursue a strong global climate agreement in Paris,"
Obama said. "As I indicated to him, I think India's voice is very
important on this issue."
Modi said a deal between Washington and China committing to a peak
year for emissions did not put pressure to do the same on India,
where industrialization is far behind its larger neighbor and where
hundreds of millions have no electricity.
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The U.S. Export-Import Bank is exploring projects for a $1 billion
clean energy financing for companies willing to ship equipment from
the United States to India.
First Solar and SunEdison Inc are two U.S. solar companies that
already have sizeable businesses in India, and together with local
firms, are expected to invest $6 billion in India in the fiscal year
to March 31 and $14 billion in the next fiscal year.
To further mobilize private capital for the clean energy sector, the
U.S. Agency for International Development will install a field
investment officer in India this summer, the White House Press
Office said in a statement after the summit.
(Editing by Frank Jack Daniel and Crispian Balmer)
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