The Union Cabinet chaired by Prime Minister Sh. Narendra Modi has apprised of a Strategic Partnership Agreement signed between the Ministry of New and Renewable Energy (MNRE), Government of India and the International Renewable Energy Agency (IRENA). The Agreement was signed in January 2022.
The aim of the Agreement is to drive ambition, leadership and knowledge on green energy transitions based on renewable energy in India. The Agreement will help India’s energy transition efforts and will also help the world in combating climate change.
The areas of cooperation as envisaged in the Strategic Partnership Agreement will support India in achieving its ambitious target of 500 GW of installed non-fossil fuel electricity capacity by 2030. This in-turn will promote Atmanirbhar Bharat.
The salient features of the Agreement include enhanced cooperation in the following areas:
- Facilitating knowledge sharing from India on scaling-up renewable energy and clean energy technologies
- Supporting India’s efforts on long term energy planning
- Collaborating to strengthen the innovation climate in India
- Moving towards cost-effective decarbonisation through catalysing development and deployment of green hydrogen.
Thus, the Strategic Partnership Agreement will help India’s energy transition efforts and will also help the world in combating climate change.