India and the United States of America signed a Memorandum of Understanding (MoU) to set up a $7.8 million fund for supporting clean energy.
Under the pact USD 8 million have been drawn on equal sharing basis. This cooperation is a new zone under the US-India Partnership to Advance Clean Energy (PACE). A leading initiative on Clean Energy that combines the resources of several US agencies and Government of India ministries.
It will provide financial support to develop and test innovative products, systems and business models.
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