Comments
The Sujana Group of Hyderabad has pitched in with a $485,000-grant for the Center for Climate Change Law at Columbia Law School to be part of US investment in clean energy projects in India.
According to a statement, the project run by the Center for Climate Change Law at Columbia Law School seeks to facilitate US investment in the clean-energy sector by developing contracts and other legal instruments designed to become standards in the industry.
The project aims to facilitate access of US equipment manufacturers as India begins increasing its power capacity by 80 per cent to meet its energy needs in 2030, allow US banks and investors to invest in clean-energy while fulfilling compliance requirements.
The US Export-Import Bank and the Overseas Private Investment Corporation have entered into agreements to each establish a $250-million facility devoted to renewable energy projects.
“We recognise that as important as it is for India to grow, it needs to do so in an environmentally sustainable fashion,” Mr Y.S. Chowdary, Chairman of the Sujana Group and a Member of Parliament.
“It is vital that we figure out the most cost-effective ways to achieve that.”
Mr Michael Gerrard, the Andrew Sabin Professor of Professional Practice and Director of the Center for Climate Change Law, said: “There is potential for US companies to not only help India reduce greenhouse gases, but to take an active role in investments that can provide return.”
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.