To enhance cooperation in the clean energy space, India and the United States have decided to establish a working group to discuss financing options for encouraging generation of power through renewable sources.

The decision was taken Sept. 28 at the India-U.S. Energy Dialogue, which was co-chaired by India’s Planning Commission Member B.K. Chaturvedi and U.S. Energy Secretary Steven Chu. 

The two countries also agreed to establish another working group on "low carbon growth" for assessing the carbon dioxide emissions from different industries and for initiating steps to reduce such emissions. 

Indian Foreign Secretary Ranjan Mathai, Deputy Energy Secretary Daniel Poneman and Acting Under Secretary of Energy David Sandalow were among the top officials to participate in the energy dialogue. 

This is the first bilateral initiative designed specifically to promote clean energy by a team of scientists from India and the United States, with a total joint committed funding from both governments of $50 million.

According to the statement, the India-U.S. Energy Dialogue noted enormous trade and investment opportunities, which have been opened up with discovery of American shale gas