New Delhi [India], October 28 (ANI): The U.S. Agency for International Development (USAID) announced three regional energy programs in South Asia, valued at more than USD28 million through the US Government's Asia Enhancing Development and Growth through Energy (Asia EDGE) initiative that would improve access to affordable, secure, reliable, and sustainable energy through expanded, transparent, and efficient energy markets.
This was announced at the US government's third Indo-Pacific Business Forum hosted today virtually in Hanoi, Vietnam.
"The United States is committed to supporting India in advancing our shared vision for a free and open Indo-Pacific. The US Government, through USAID, will leverage its technical expertise, regional presence, and convening power to assist the South Asia region in overcoming energy constraints and achieve long-term economic growth and stability," US Ambassador to India, Kenneth Juster said in a statement.
According to an official statement, USAID will award funding to South Asian and US experts "who will develop energy models and evaluate proposed energy solutions; to legal teams who will assist with effective government regulation; and to research and development, ensuring that South Asian countries identify more energy solutions."
"Building on their longstanding energy cooperation, the United States and India are working together on connectivity and economic development in the region. Three programs will be vital to achieving Asia EDGE's goals across the Indo-Pacific - the South Asia Group for Energy (SAGE), the South Asia Regional Energy Hub (SAREH), and the planned South Asia Regional Energy Partnership (SAREP)," the statement read.
The programs will allow energy to move more freely and efficiently across the region's borders. SAREH, SAGE, and SAREP will benefit the countries of South Asia, creating new opportunities through advanced energy technologies.
USAID created the multimedia platform SAREH to share Asia EDGE's results throughout South Asia; coordinate with various South Asian stakeholders; and enhance knowledge-sharing, research, and resources between South Asian countries and USAID Missions, the statement read.
SAGE, a consortium of the US Department of Energy National Labs partnering with South Asian energy leaders such as the Indian National Institutes of Wind- and Biomass Energy, "will foster technical exchanges" and analysis to keep South Asia on the cutting edge of advanced energy technologies.
"SAREP, will proactively seek partnerships with the private sector, creating an "enabling environment" characterized by sound policies, effective institutions, transparency, non-restrictive competition, and reliable contract enforcement," it read further. (ANI)