India and the USA entered into agreements valued at over $1.4 billion in various sectors, including power, information technology and the environment.
Eleven business agreements were signed in New Delhi between companies from the two countries. These included three agreements in the power sector. These were: Synergics Energy Development signed a letter of intent with Power Finance Corporation, to finance 25 per cent of the 330 MWe Shrinagar hydropower project in Uttar Pradesh.
Multinational Ogden Energy of New York entered into two agreements with the Madhya Pradesh Electricity Board for construction of a hydropower dam and signed a memo of understanding with Kumar Group for a 400 MWe power project at Maheshwar in Madhya Pradesh.
Ogden Energy and Balaji Power Corporation will build, own and operate the 106 MWe Balaji power project in Tamil Nadu.