Union Cabinet approves MoU between India and UK in the field of cooperation in the energy sector
The Union Cabinet has given its ex-post facto approval for signing of a Memorandum of Understanding (MOU) on cooperation between India and United Kingdom in the energy sector.
Decision in this regard was taken by Union Cabinet meeting chaired by the Prime Minister Narendra Modi in New Delhi.
Under the MoU the areas of cooperation are
- The main focus will be on the electricity market structure and the integration of renewable energy into the grid.
- Market reforms, regulatory structures and market competition in the distribution and supply of electricity. It includes incentives and regulations for Renewable Energy deployment.
- Promotion of energy efficiency practice and policies including vehicular fuel efficiency and industrial energy efficiency.
- The integration of renewable energy into the grid. It includes off-shore wind energy and solar energy and Tidal energy.
- Promotion of smart grids, energy storage and new energy technologies along with off-grid renewable energy services. It also includes capacity building of renewable energy institutions.
The MoU will provide a framework for technical assistance in the energy sector along with in-kind grant and other support through relevant projects initiated by UK.
The programme under MoU would help to improve energy security and reliability of supply at both centre and state levels. It would also improve energy access and facilitate sustainable economic growth.
MoU between India and Indonesia
The Union Cabinet also approved MoU between India and Indonesia in the field of new and renewable energy. It was signed in Jakarta during the visit of Vice President M. Hamid to Indonesia in November 2015.
The MoU seeks to establish the basis for a cooperative institutional framework to promote and encourage technical bilateral cooperation on new and renewable energy issues.
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Month: Current Affairs - December, 2015