Indian Union Cabinet has given its ex-post facto approval for signing of a Memorandum of Understanding (MoU) between India and the United Kingdom on cooperation in the energy sector, including offshore wind energy.
The areas of cooperation also include 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 two countries will also collaborate on the integration of renewable energy into the grid and smart grids, as well as energy storage and new energy technologies.
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. Project specific agreements may also be developed, from time-to-time.
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, Indian government said.