The International Renewable Energy Agency (IRENA) and India’s Ministry of New and Renewable Energy (MNRE) have entered into a strategic partnership agreement to strengthen the South Asian country’s collaborations in the area of renewable energy.
The agreement was signed by the MNRE Secretary, Mr. Indu Shekhar Chaturvedi and IRENA Director-General Mr. Francesco La Camera during the 12th IRENA Assembly.
Under the partnership, IRENA will facilitate knowledge sharing from India on scaling-up renewable and clean energy technologies as well as support the country’s efforts to advance cost-effective decarbonization through the development of domestic green hydrogen.
The two parties will work closely to evaluate the potential role green hydrogen can play both as an enabler of the transition in India and as a new source of national energy exports. India has initiated the process for developing and launching a National Green Hydrogen Mission to allow cost-competitive green hydrogen production, storage, distribution, and application technologies.
In 2021, India installed 13 gigawatts (GW) of renewables and has grown its capacity by over 53 GW in the last five years, positioning it as one of the fastest-growing renewable energy adopters in the world.
With massive renewable energy potential, India has an aim to become a major producer of green hydrogen to support the decarbonization of its industrial economy. According to IRENA, hydrogen will account for around 12 percent of the total energy supply in a 1.5°C world by 2050.
“India’s commitment for the cause of renewables is very well known and our record speaks for itself. We hope to make full use of the strategic partnership agreement and draw fully upon the expertise of IRENA in the area of renewable energy,” Mr. Chaturvedi stated.
“India is a renewable energy powerhouse and a country whose energy transition actions speak louder than their words. As a key global actor in the shift to renewables and a founding member of IRENA, India has played a major role in international energy cooperation. This partnership represents a new chapter in an already strong relationship as the country looks to advance its transition and capitalize on emerging new technologies.”
India is also eyeing significant offshore wind capacity development among other technology priorities. With innovation as a strong focus of joint efforts, IRENA and India will join hands to host an innovation day in the country, offering an opportunity for nations across the globe to showcase successes and learn from each other’s experiences.
IRENA will also facilitate long-term national energy planned towards the achievement of ambitious long-term developmental targets in the sectors of housing, rural electrification, renewable energy, assured electricity supply and reduction in oil import dependence, among others.