Cabinet approves MoU with France on renewable energy cooperation

New Delhi: The Union Cabinet has approved the signing of a Memorandum of Understanding (MoU) between India and France in the field of renewable energy cooperation, said an official statement on Wednesday. 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.

What does the MoU entail?

The MoU entails exchange and training of scientific and technical personnel, exchange of scientific and technological information and data, organisation of workshops and seminars, transfer of equipment, know-how and technology, and development of joint research and technological projects.

ALSO READ: IEA: Worldwide coal electricity generation to register largest annual decrease on record in 2020

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.

The backdrop

India and France were re-elected as the President and Co-President of the International Solar Alliance (ISA) for a term of two years at the virtual meeting of the Third Assembly held in October 2020. The Third Assembly of the ISA was attended by 34 ISA Members ministers, 53 Member countries and five signatory and prospective member countries. 

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram. You may follow us on Twitter here and stay updated)