India and EU to Step Up Cooperation on Clean Energy and Climate ActionEU | September 8, 2022, Thursday // 15:25| views
The European Union and India will strengthen their partnership and deepen bilateral cooperation with a focus on clean energy and climate action, with an emphasis on solar energy and green hydrogen.
India is a key strategic partner for the European Union. The EU is India's third-largest trading partner and second-largest export destination. It is also one of the largest investors in India, with enormous untapped potential. Both share a deep commitment to ensuring the transition towards a green future. The EU and India have been working closely together to speed up the deployment of renewable energy, promote energy efficiency, collaborate on smart grid and storage technology, and modernize the electricity market under the framework of the Clean Energy and Climate Partnership, as per a European Commission press release.
The EU and India have set themselves ambitious Renewable Energy targets and are closely aligned in the fight against climate change. During her meeting with Union Minister R.K. Singh, Union Minister Pralhad Joshi and Minister of State, Bhagwanth Khuba, the Commissioner welcomed India's ambitious renewable energy targets and reiterated the EU's commitment to intensify its collaboration with India to achieve these Renewable targets.
Both sides agreed to further accelerate cooperation on energy efficiency, renewables & grid integration, green hydrogen, and mobilizing sustainable finance. Commissioner Simson and Minister R.K. Singh also inaugurated the first EU India Hydrogen Forum, which will help to speed up cooperation on green hydrogen, which is a priority for both.
Commending India's leadership in global initiatives such as the International Solar Alliance and the Coalition for Disaster Resilient Infrastructure, Commissioner reiterated the EU's commitment to both these initiatives. In her meeting with Ajay Mathur, Director General, International Solar Alliance, the Commissioner reiterated the full support of the EU to ISAs objectives and welcomed that more and more EU Member States are joining this important new international organization.
During her visit, Commissioner Simson also inaugurated the event on Solar Energy, highlighting the need for a secure and diversified supply chain, including strengthening PV manufacturing capacities in different regions of the world. She emphasized the role of open, competitive and rule-based market solutions for both solar energy equipment and solar energy deployment.
Another important aspect is to advance India-EU cooperation on Green Hydrogen. At the First EU India Hydrogen Forum, Commissioner Simson reiterated that International cooperation is a key part of EU's hydrogen policy and India is a major partner in this respect.
She highlighted during her inaugural speech that additional focus on hydrogen in EU-India clean energy cooperation will go well together with the EU's strong focus to support the massive deployment of Renewable Energy in India for direct electrification, for energy access and to meet the increasing demand for electricity in a clean and sustainable way, the press release read.
The Commissioner also expressed interest to explore together with financing partners the possibility to build a pipeline of hydrogen projects in India, leveraging private sector investments in innovative technologies under the framework of EU Global Gateway initiative. The event brought together EU-India businesses to discuss potential joint projects on hydrogen.
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