G20 Summit: India, Italy To Explore Setting Up Renewable Energy Corridors

here is a lot that has been spoken by the Government of India when it comes to renewable energy and everything from ethanol, to bio fuel to even hydrogen comes under the radar to take the path to greener pastures. According to the joint statement issued by both India and Italy, have agreed to deepen cooperation for accelerating the deployment of renewable energy, including deployment of innovative renewable technologies such as offshore wind energy and exploiting the potential of green hydrogen, promoting energy efficiency, developing smart grids and storage technologies, modernizing the electricity market.

Prime Minister Narendra Modi held the first in-person meeting with his Italian counterpart Mario Draghi on the sidelines of the G20 Summit in Rome, after which a statement was issued which said that both the leaders encouraged joint investments of Indian and Italian companies in this renewable energy field.

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Such a partnership could build on existing bilateral mechanisms, including by giving new impetus to the cooperation on renewable energy and sustainable development between the Italian Ministry of Ecological Transition and its Indian counterparts, namely the Ministry of New and Renewable Energy, the Ministry of Power and the Ministry of Petroleum and Natural Gas.

On the agenda of course, were innovation for decarbonisation and smart cities with specific emphasis on electrification of public transport in urban areas. In addition, both sides agreed on the utmost importance of cost effective integration of a growing amount of renewable energy into their respective power systems, as a key asset for an effective clean transition that generates jobs, GDP growth, reinforces universal energy access while eradicating energy poverty.

India has big plans as it looks to deploy 450 GW of renewable energy by 2030 and this will certainly help a long way in achieving that goal.