“Flexible Resources Initiative” Launched Under the Aegis of the U.S.-India Clean Energy Finance Task Force

The US and India Governments on October 4, 2019 launched the Flexible Resources Initiative under the U.S.-India Clean Energy Finance Task Force. Frank R. Fannon, Assistant Secretary of State of the U.S. Department of State, Neil Chatterjee, Chairman of the Federal Energy Regulatory Commission, and Honorable Anand Kumar, Secretary, Ministry of New and Renewable Energy Power together flagged off the new initiative.  Other Government of India dignitaries at the launch included, P K Pujari, Chairman Central Energy Regulatory Commission; Vivek Kumar Dewangan, Joint Secretary, Ministry of Power; and Dinesh K. Sarraf, Chairperson, Petroleum and Natural Gas Regulatory Board. Following the launch, US-India Strategic Partnership Forum hosted a high-level business round table on flexible resources with senior U.S. and Indian energy policy makers and regulators in attendance.

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The U.S.-India Clean Energy Finance Task Force (Task Force), co-led by the U.S. Department of State’s Bureau of Energy Resources and India’s Ministry of New and Renewable Energy, draws on the finance expertise of both countries’ governments and private sectors to strengthen India’s ability to scale up its clean energy by sharing innovative business and finance models tailored to India’s context.  The Task Force will be expanded on the Indian side to include the Ministry of Power as the lead on the new flexible resources initiative in collaboration with India’s renewable energy ministry and electricity and gas regulators.  The U.S. Department of State and the Federal Energy Regulatory Commission will co-lead the flexible resources initiative on the U.S. side in partnership with the U.S. Department of Energy and U.S. Agency for International Development.

The Flexible Resources Initiative under the U.S.-India Clean Energy Finance Task Force will promote cost-effective strategies to ensure that India’s power system has adequate system flexibility to integrate its target of 460GW of installed renewable energy capacity by 2030.

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Mr Nolty Theriot, Senior Vice President, Policy and Advocacy at US-India Strategic Partnership Forum said, “The Flexible Resource Initiative is a milestone in the US and India energy partnership. The agility of flexible resources — including natural gas, grid-scale battery storage and hybridized energy resource solutions will optimize asset performance, reduce electric grid instability, and more efficiently integrate renewable energy resources into the grid, thereby advancing the energy security of India.”

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