Union Cabinet Approves Strategic Partnership Agreement between MNRE & IRENA

The Union Cabinet, presided over by Prime Minister Narendra Modi, was informed of the signing of a Strategic Partnership Agreement between the Ministry of New and Renewable Energy (MNRE), Government of India, and the International Renewable Energy Agency (IRENA). The contract was signed in January 2022.

The Agreement's goal is to increase India's ambition, leadership, and knowledge of green energy transitions based on renewable energy. The Agreement will aid India's energy transition efforts as well as the global fight against climate change.

The areas of cooperation envisioned in the Strategic Partnership Agreement will help India meet its ambitious goal of 500 GW of installed non-fossil fuel electricity capacity by 2030. As a result, Atmanirbhar Bharat will gain popularity.

The salient features of the Agreement include enhanced cooperation in the following areas:

• Facilitating the exchange of knowledge from India on the scaling-up of renewable energy and clean energy technologies

• Supporting India's long-term energy planning efforts

• Working together to improve India's innovation climate

• Moving toward low-cost decarbonization by catalyzing the development and deployment of green hydrogen.

As a result, the Strategic Partnership Agreement will benefit both India's energy transition efforts and the global fight against climate change.

About IRENA:

The International Renewable Energy Agency (IRENA) is an intergovernmental organization that assists countries in making the transition to a more sustainable energy future. It serves as the primary platform for international cooperation, a centre of excellence, and a repository of renewable energy policy, technology, resource, and financial knowledge.

In the pursuit of sustainable development, energy access, energy security, and low-carbon economic growth and prosperity, IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy, including bioenergy, geothermal, hydropower, ocean, solar, and wind energy.