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The Obama Administration has announced a number of actions to continue the global transition to zero-and-low carbon energy sources.
Committing $125 million in OPIC financing for renewable energy projects in El Salvador and India;
Announcing seven Innovation Challenges identified by MI member countries that highlight clean energy areas with the potential to play a significant to achieve deep-decarbonization;
Creating a partnership between USAID, the Department of State with the Department of Energy's National Renewable Energy Laboratory to identify a pipeline of clean energy entrepreneurs in developing countries;
Providing $4 million in awards to eight household solar firms under thePower Africa Scaling Off Grid Grand Challenge -- a $36 million investment to empower entrepreneurs and investors to connect 20 million households in sub-Saharan Africa to modern, clean, and affordable electricity;
Releasing a White House report on the state of the market for access to off-grid energy services and efficient appliances;
Announcing more than $11 million raised, in partnership with other governments and development partners, for the deployment of efficient off-grid technologies globally through the Efficiency for Access (E4A) Coalition;
Launching a partnership with the philanthropic sector to bring more efficient appliances torural Indian villages; and
Supporting the first Solar Decathlon competition in Africa that creates opportunities for university students to learn about and showcase solar energy technologies.
PROVIDING NEW FINANCING FOR RENEWABLE ENEGY PROJECTS GLOBALLY
Committing New Financing for Renewable Energy Projects. Today, OPIC is announcing $125 million in financing commitments to bring renewable energy to El Salvador and India, including:
$50M towards a series of eight utility-scale solar PV projects in El Salvador.These projects will help El Salvador strengthen its energy security by diversifying its energy mix and helping the country move away from heavy reliance on imported fossil fuels.
$75M for a utility-scale PV project in the Indian state of Telangana sponsored by ReNew Power Ventures.This commitment represents the rapid mobilization of financing under a $250 million facility to support up to 400 MW of new solar power projects in India across multiple states.
Launching the United States-India Clean Energy Finance facility: This week, the Overseas Private Investment Corporation, the U.S. Government's development finance institution, and the Government of India will formally launch a $20 million distributed solar facility in partnership with leading philanthropies...