The UK willing to collaborate with India on Green Hydrogen
India and the United Kingdom have expressed their willingness to explore the possibility of establishing a World Bank for Green Energy which could materialise the proposal for US$100 billion climate finance pledged by the developed countries under the Paris Agreement.
This was stated on 17 Aug 2021 following a meeting between Power and New and Renewable Energy Minister R.K Singh and COP 26 President Alok Sharma.
Sharma has also expressed the willingness of the UK side for collaborating with India on Green Hydrogen, said the Ministry of Power.
Singh invited the UK based companies to participate in the upcoming bids for Green Hydrogen and lithium-ion.
Additionally, the UK side requested India’s support for organizing a successful COP26.
In return, Singh expressed India’s interest in collaborating with the UK on offshore wind, and stressed the need for developed and developing countries to work together for bringing down the cost of storage.
He informed the Sharma-led UK delegation that India is the only G20 country whose actions are in accordance with the NDCs set under the Paris Agreement.
During the meeting, discussions were held on the need of increasing storage capacity in view of India’s ambitious target of having 450 MW of installed Renewable Capacity by 2030.
Elaborating, Singh also informed the meeting that India has already retired 16,369 MW of inefficient thermal units as of March 2021.
The COP26 President had raised the topic of phasing out of coal fired power plants during the meeting. #technology #investment #banking #projects #OPEC /fiinews.com
