Rome / New Delhi: India and Italy have agreed to explore the development of hydrogen green, preparing renewable energy corridors, and shared projects in the natural gas sector because both countries seek to strengthen partnerships in energy transitions.
The joint statement issued after Prime Minister Narendra Modi held the first direct meeting with Italian partner Mario Draghi on the sidelines of the G20 summit in Rome, said the two leaders agreed to encourage investment with Indian and Italian companies in the energy transition.
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They agreed to “begin a dialogue to support the development and dissemination of green hydrogen and related technology in India” and “considering working together to support large-size green corridor projects in India to produce and integrate 450 gW renewable energy in 2030.” Both leaders also agreed To “encourage Italian and Indian companies to develop joint projects in the natural gas sector, technological innovation for decarbonization, smart cities, and other specific domains (IE: electrification of urban public transportation).” India sets an ambitious target of building capacity to produce 450 gigawatts of electricity from renewable sources such as sun and wind and more than double the natural gas share in the basket of its energy to 15 percent by 2030 as a transition to the economy that emits low carbon.
Also see the increase in hydrogen production of all sources, especially green hydrogen as part of its energy transition pathway.
A joint statement said the joint work group formed by a memorandum of understanding of cooperation in the energy sector, signed in Delhi on October 30, 2017, will be assigned to explore cooperation in areas such as smart cities; Mobility, Smart-Grids.
The Group will also explore cooperation in electrical distribution and storage solutions; gas transportation and promote natural gas as bridge fuel; integrated waste management (Waste Waste); And green energy (green hydrogen; CNG & LNG; bio-methane; bio-refinery; second generation bio-ethanol; distance oil; bio-oil -Waste to fuel).
Both leaders also agreed to “share information and useful experiences especially in the field of policy and regulatory frameworks, including possible ways to facilitate transition to commercially proper cleaning and fuel / technology, long-term grid planning, incentive schemes for renewable energy Efficiency of the steps, and with regard to financial instruments to accelerate the transition of clean energy.
“They recognized significant progress in bilateral relations since the adoption of the action plan for an enhanced partnership between India and Italy (2020-2024) on November 6, 2020.
They expressed determination They to strengthen cooperation in the strategic sectors handled by the action plan, including cross-cutting problems to accelerate the transition of clean energy to fight climate change, the center for the G20 leader summit in Rome and COP26 in Glasgow.
They also considered the meeting of Indian-EU leaders held in Porto on May 8, 2021, where the European Union and India highlighted the urgency overcoming the challenges of climate change, loss and biodiversity pollution.
Two leaders agreed to deepen cooperation to accelerate the spread of renewable energy, including the spread of innovative renewable technology such as offshore wind energy and exploit green hydrogen potential, promoting energy efficiency, developing electricity and storage technology, modernizing the electricity market.
“In addition, both sides agree to the most important of the effective cost integration of the amount of renewable energy that continues to grow into their respective systems, as the main asset for effective clean transitions that produce work, GDP growth, strengthen access to temporary universal energy Eradicate energy poverty, “he said.
“In this perspective, the second prime minister respects Indian determination to spread 450 gw renewable energy in 2030 and rapid ratification and Italian active support for the International Solar Alliance, and agreed to launch bilateral strategic partnerships in the energy transition domain.” Such partnerships can Building the existing bilateral mechanism, including by providing a new boost for the cooperation of renewable energy and sustainable development between the Italian ecological transition ministries and Indian colleagues, namely the Ministry of New and Renewable Energy, the Ministry of Power and Minister of Petroleum and Natural Gas, added.