8minutenergy Renewables Recognized by the Obama Administration for 4 GW Commitment to Solar Market in India
8minutenergy Renewables, LLC , the largest independent solar developer in the U.S., is announcing recognition from the Obama Administration for its four gigawatt commitment to India’s solar energy market. 8minutenergy’s commitment was made in tandem with Prime Minister Modi of India’s visit to the White House, which focused on increasing clean energy access and progress made around U.S.-India climate change priorities.
By pursuing its large-scale solar PV project pipeline, 8minutenergy will be helping the Indian government meet its aggressive renewable energy goals of 100 GW by 2022 (including 60 GW of large and medium scale solar). 8minutenergy’s projects would also spur local economies in India by generating over 10,000 domestic construction jobs in total.
“We are honored to be recognized by President Obama and Prime Minister Modi. We have recently expanded our focus to include international markets where clean energy is needed most, and we are particularly excited about our work in India,” said Martin Hermann, Founder and CEO, 8minutenergy. “With its complex project development environment, mandates for utility-scale growth, and auction award mechanisms, we see a lot of similarities between the highly-competitive California solar market and India’s. We are proud to be one of California’s solar energy leaders with nearly 15% market share today, and we hope to bring what we’ve learned in our home state into other countries through our effort to make clean energy accessible to all.”
Tom Buttgenbach, President and Co-Founder of 8minutenergy, also commented, “We are dedicated to bridging U.S-India partnerships across the development spectrum – from financing to project construction and operations – in order to make this pipeline a reality. We will bring cutting-edge technology and deployment solutions, including many U.S.-designed solar and storage options, to our global energy projects. It is 8minutenergy’s mission to make clean energy abundant, and our commitment to the U.S. and Indian solar markets are key to achieving this objective.”
8minutenergy is also committing to contribute to the Clean Energy Finance Forum, which provides private sector support to the U.S.-India Clean Energy Finance Task Force. A presidential initiative announced by President Obama and Prime Minister Modi, the Task Force is exploring innovative bilateral approaches to clean energy financing.