New Delhi– the United States of America says it’s putting together a bunch of nations or countries that could support India with funding and financing its extensive goal of reducing 450 GW of renewable energy in the coming future specifically by 2030.
John Kerry said- “India has a plan to produce about 450 gw of energy or renewable power by 2030, it’s a very formidable goal. It’s a great goal but they need about 600 billion dollars in order to be able to help make that kind of a transition. I have put together a small consortium of a number of nations that are prepared to aid and assist India with some of the financing and transition”. – it was highlighted in a chat between US President Joe Biden’s climate Czar John Kerry and former energy secretary Ernest Moniz over the last weekend.
Reports say, until now there’s no clarity or no names are being mentioned about what private sector entities or countries would be in the group, or roped in for the mutual effort. Kerry added that “he was talking to the major investment houses, asset managers in the United States to try to determine how much private sector capital can be generated or needed so that we can make this huge transition faster without any delay”.
While on the other hand, shedding light on the issue, some Indian officials said the work is still underway. More information and transparency would come when Biden’s Climate Summit with globally recognized carbon emitters takes place this year on April 22. Finally, Kerry’s statement means that the foundations and relationship between India and the U.S. would shift to other purposes, such as climate, innovation, and technology.
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