India has signed two Memoranda of Understanding (MoU) with Morocco and Guyana under which the participant countries have agreed to cooperate for the expansion of renewable energy.
These bilateral agreements reflect New Delhi’s desire to strengthen its leadership role in climate action and its ability to bring tangible changes via the International Solar Alliance (ISA).
India’s Ministry of New and Renewable Energy (MNRE) and Morocco’s Ministry of Energy, Mines and Sustainable Development have identified new and renewable energy as a common area of interest and the two countries aim to establish a cooperative institutional relationship for the development of new and renewable energy technologies and capacity building.
India has also signed an MoU with Guyana under which both the countries have agreed to promote bilateral technical cooperation in the field of new and renewable energy and identify areas of mutual interest.
The countries intend to create a joint working committee to review, monitor, and discuss matters relating to areas of cooperation.
There have been consistent efforts from the Indian government to work with other countries for the development and deployment of solar energy by facilitating availability of technologies, finances, research, and capacity building.
Mercom recently reported that after initiating and founding the International Solar Alliance (ISA) jointly with France, India also entered bilateral agreements with Fiji and Greece to further the development of renewable energy generation and reduce its carbon footprint for a sustainable future.
According to preliminary estimates by the Government of India, approximately ₹166.55 trillion (~$2.5 trillion) is required to reach the country’s target of 40 percent electricity generation from renewables by 2030. These bilateral agreements will increase the inflow of cash and technology for the development of the renewable energy sector in India.
India ratified the Paris Climate Accord in October 2016, setting a goal to generate 40 percent of its electricity from renewable energy sources.
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Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism & Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. More articles from Nitin Kabeer