The Union Cabinet, chaired by Prime Minister Narendra Modi was apprised of the signing of Memorandum of Understanding (MoU) between India and France in the field of renewable energy cooperation.
The Cabinet approval was given ex-post facto, as the MoU was signed in January 2021.
The objective of the MoU is to establish the basis for promotion of bilateral cooperation in the field of new and renewable energy on the basis of mutual benefit, equality and reciprocity. It covers technologies relating to solar, wind, hydrogen and biomass energy.
The MoU entails:
· exchange and training of scientific and technical personnel;
· exchange of scientific and technological information and data;
· organization of workshops and seminars; transfer of equipment, know-how and technology;
· development of joint research and technological projects.
This MoU will help in the development of technological know-how in the field of Renewable Energy and thereby aid the process of attaining the ambitious target of 450 GW of installed Renewable Energy capacity by 2030.
India’s renewable energy portfolio has been evolving. According to reports, wind and solar together account for about 80% of the power generated through renewable sources. The share of wind energy has reduced to 44% from 52% in 2017-18, while that of solar has increased from 25% to 39%. Among top 15 producers of power, India ranks 11th in share of production from renewables.
(Published from PIB)
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