|FOR IMMEDIATE RELEASE
May 3, 2013
Steve Lewis | (703) 875-4357
USTDA SUPPORTS EXPANSION OF ENERGY RESOURCES IN INDIA
Two Grants Demonstrate Strategic Cooperation in Clean Energy in India
MUMBAI, INDIA – Today, the U.S. Trade and Development Agency (USTDA) concluded two grant agreements in Mumbai to assist in improving power sector efficiency and developing shale gas and oil in India.
Ms. Jamie Merriman, Country Manager for South Asia, on behalf of USTDA, and Mr.R. R. Mehta Senior Executive Vice President, Reliance Infrastructure Limited (Reliance Infrastructure) concluded the first grant in the amount of $662,155. U.S. Consul General Peter Haas hosted and witnessed the signing at the U.S. Consulate General in Mumbai. The grant agreement supports funding for a feasibility study and pilot project for the installation of a demand side management (DSM) power system on Reliance Infrastructure's Mumbai distribution system.
Reliance Infrastructure has selected Innovari, Inc. (Austin, Texas) as the contractor for the project. Innovari will assist Reliance Infrastructure in deploying and utilizing the new smart grid DSM system to manage peak demand and more efficiently utilize its electric power infrastructure.
Ms. Merriman and Dr. Shailendra K Singh, Vice-President & Head – Geotechnical (Unconventional Blocks) of Essar Oil Limited (EOL) concluded the second grant in the amount of $609,693. The grant agreement supports funding for a feasibility study that will assist EOL in identifying areas to explore for shale gas and oil in the company's existing coal bed methane concession areas. If successful, development will provide new domestic resources of cleaner energy for the Indian economy, which currently depends on coal and oil for more than 80 percent of its energy needs, much of which is imported.
EOL has selected Invenire, Inc. (Houston, TX) as the contractor for the project. As EOL continues its exploratory drilling under concession agreements with the Government of India, Invenire will provide technical expertise to identify the best prospective areas to drill.
"Together, we are building relationships and sharing the knowledge necessary to accomplish India's power infrastructure and clean domestic energy development goals," said USTDA Regional Director Henry Steingass.
"We are jointly investing in efficient energy infrastructure and the expansion of India's domestic resources to minimize environmental impacts while simultaneously fueling India's expanding economy," stated CG Haas at the grant signing event.
Both projects support priority goals of the U.S.-India Strategic Dialogue, scheduled to take place in late June in New Delhi, and the U.S. –India Energy Cooperation Program (ECP) launched by USTDA, the Indian government and the U.S. private sector in 2011.
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The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority development projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project planning activities, pilot projects, and reverse trade missions while creating sustainable infrastructure and economic growth in partner countries.
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