The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday gave ex-post facto approval for signing of a memorandum of understanding (MoU) between India and the United Kingdom and Northern Ireland on cooperation in the energy sector.
The areas of cooperation included market reforms, regulatory structures and the role of competition in the supply and distribution of electricity, including regulations and incentives for Renewable Energy deployment; the integration of renewable energy into the grid; energy efficiency policies and practice, including industrial energy efficiency and vehicular fuel efficiency; off-shore wind energy and solar energy; smart grids; energy storage and new energy technologies.
The areas of cooperation also included capacity building of renewable energy institutions; off-grid renewable energy services; tidal energy; and any other area of cooperation approved in writing by the participants.
The MoU will provide an enabling framework for technical assistance, including in-kind grant, and other support, as mutually agreed, through relevant projects initiated by the United Kingdom.
Besides, project specific agreements may also be developed, from time-to-time, while the focus will be the electricity market structure and the integration of renewable energy into the grid.
The programme would work at both central and state levels to improve energy security and reliability of supply, improve energy access and facilitate sustainable economic growth.