India, Australia sign LoI to develop, deploy low-cost solar, clean hydrogen tech

• Energy transition was a major area of discussion in the dialogue
• The focus of this LoI will be scaling up manufacture and deployment of ultra low-cost solar and clean hydrogen

New Delhi: India and Australia have signed a Letter of Intent (LoI) at the 4th India – Australia Energy Dialogue on Tuesday under which the two countries aim to work towards reducing the cost of new and renewable energy technologies, including solar and hydrogen, and scaling up deployment in order to accelerate global emissions reduction. The dialogue was co-chaired by Minister for Power and New and Renewable Energy RK Singh and Australia's Minister for Energy and Emissions Reduction Angus Taylor.

"Energy transition was a major area of discussion in the dialogue and both the Energy Ministers spoke in detail about the ongoing energy transition activities in their respective countries with focus on renewables, energy efficiency, storage, EVs, critical minerals, mining etc. The need of Climate Finance was also highlighted by India for meeting the Energy Transition goals of developing countries," said the Ministry of Power in a statement.

India, Australia to focus on ultra low-cost solar, hydrogen tech

Commenting on the signing of the LoI, the Power Ministry said, "This LoI will pave the way for working towards reducing the cost of new and renewable energy technologies and scaling up deployment in order to accelerate global emissions reduction. The focus of this LoI will be scaling up manufacture and deployment of ultra low-cost solar and clean hydrogen."

The co-chairs of the five Joint Working Groups under the India-Australia Energy Dialogue — Power, New and Renewable Energy, Coal and Mines, Critical Minerals, and Oil and Gas — presented the progress till date and the forward action plan under the respective JWGs.

Energy transition

"There is an urgent need to focus on advancing technology and clean energy transition. In this context, the agreed forward action plan includes areas like energy efficiency technologies, grid management, R&D collaboration on flue gas desulphurisation, biomass or hydrogen co-firing, water cycle optimisation, renewables integration, batteries and electric mobility," said the Power Ministry.

Apart from the power sector, there are many desirable areas of cooperation agreed under the other JWGs like reducing costs of Green Hydrogen, cooperation in sphere of coal-based energy security and resource deployment, investment opportunities in the minerals sector, exploring potential for an LNG Partnership, among other areas.

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