The Union Cabinet has given post facto approval to the strategic partnership agreement signed between the Ministry of New and Renewable Energy (MNRE) and the International Renewable Energy Agency (IRENA) which will help India in green energy transition.
The aim of the agreement, signed in January 2022, 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 areas such as facilitating knowledge sharing from India on scaling-up renewable energy and clean energy technologies. It will also support India’s efforts on long term energy planning and collaborate to strengthen the innovation climate in India. The pact will also focus on moving towards cost-effective decarbonisation through catalysing development and deployment of green hydrogen.