India inks MoU with US to enhance cooperation in energy security & other areas

India has signed a Memorandum of Understanding (MoU) with the United States to enhance cooperation in energy security, clean energy and climate change.
The MoU will boost energy ties between the two countries through increased bilateral engagement.
Key Facts

• The objective of the MoU is to boost energy ties between the two countries through increased bilateral engagement and further joint initiatives.
• It intends to increase incentives for innovation including R&D and voluntary and mutually-agreed technology transfer, as well as the deployment of clean energy technologies.
• It also seeks to contribute to a global effort to curb the rise in greenhouse gas (GHG) emissions and enhance resilience to the impacts of climate change.
• Under the MoU, the priority initiatives are US-India Energy smart Cities Partnership, greening the grid, promoting Energy Access through Clean Energy (PEACE) expansion.
• It also includes energy efficiency including space cooling, energy security, renewable energy, clean energy finance and US-India partnership for Climate Resilience etc.

Month: Current Affairs - June, 2016