India-US sign Memorandum of Understanding to boost energy ties
India has inked a pact with the US to enhance cooperation in energy security and climate change with an aim to promote sustainable growth.
A Memorandum of Understanding (MoU) between the Government of India and the United States was signed in New Delhi on Thursday to enhance cooperation in energy security, clean energy and climate change, the power ministry said in a statement.
Power Secretary P K Pujari and US Ambassador to India Richard R Verma signed the MoU.
Speaking on the occasion, Pujari said that “USA and India are already working in some areas and this MoU will help in expanding our horizon. It will provide framework to work more closely not only for betterment of our own people but also for creating a positive environment for the US companies working in India.”
Appreciating efforts of the Indian government, Verma said this deal will provide momentum for cooperative work which needs to be done in the fields of energy security and climate change.
The objective of the pact is to boost energy ties between the two countries through increased bilateral engagement and further joint initiatives.
These activities are intended to increase incentives for innovation including research and development, and voluntary and mutually-agreed technology transfer, as well as the deployment of clean energy technologies in both countries.
They will also contribute to a global effort to curb the rise in greenhouse gas emissions and enhance resilience to the impacts of climate change, the statement said.
The priority initiatives under the MoU would be US-India Energy smart Cities Partnership, greening the grid, promoting Energy Access through Clean Energy (PEACE) expansion, energy efficiency including space cooling, renewable energy, energy security, clean energy finance and US-India partnership for Climate Resilience, among others.
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