The Obama administration’s first trade mission to India this week is focused on the development of solar energy, according to reports.
William Zarit, deputy assistant secretary of commerce for international operations, is leading the mission, which includes representatives from 14 unnamed companies.
Zarit told reporters in India that "a new emphasis on solar and (other) renewable energy technologies" is taking U.S.-India trade relations to a new height.
He said the group met with Indian policymakers, industry groups and potential business partners on Monday, and will travel to Rajasthan and Gujarat next. These two states are leading solar energy developments in India.
Carmine D’Aloisi, minister-counsellor for commercial affairs at the US embassy, said U.S. firms are looking at investments, licensing of technologies and export of equipment.
Potential Indian partners seeking financing in these tough times can use a loan guarantee from the US Export-Import Bank, which has got a special 15-year loan scheme for renewable energy development, said Diane G. Farrell, member of the bank’s board of directors.
California-based solar thermal company eSolar recently announced an exclusive licensing agreement with the ACME Group to build up to 1,000 megawatts (MW) of solar thermal power plants over the next 10 years in India.
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