U.S. President Barack Obama on Sunday offered to help finance India's ambitious solar energy target and sought Prime Minister Narendra Modi's support at global climate talks in Paris later this year.

 

India is the world's third-largest greenhouse gas emitter and often acts as the voice of the world's developing countries in United Nations talks on everything from climate change to economic cooperation.

 

It is reluctant to commit to emission targets on the ground that this could hinder economic growth, which is vital to lifting millions of Indians out of poverty. Instead, Modi has made it a priority to expand India's renewable energy capacity and lessen the need for polluting fossil fuels.

 

India is seeking investments of $100 billion over seven years to boost the country's solar energy capacity by 33 times to 100,000 megawatts.

 

The United Nations asked governments on Thursday to submit plans to cut greenhouse gas emissions as the building blocks of a deal due in Paris in December to limit global warming, after scientists said 2014 was the hottest year on record.

 

Modi said a deal between Washington and China committing to a peak year for emissions did not put pressure to do the same on India, where industrialization is far behind its larger neighbor and where hundreds of millions have no electricity.

 

The U.S. Export-Import Bank is exploring projects for a $1 billion clean energy financing for companies willing to ship equipment from the United States to India.

 

 

PHOTO: U.S. President Barack Obama and Indian Prime Minister Narendra Modi (R) smile after giving their opening statement at Hyderabad House in New Delhi January 25, 2015.

CREDIT: REUTERS/ADNAN ABIDI.