The meeting between UK secretary of state for Business, Energy and Industrial Strategy Greg Clark and India’s Power and Renewable Energy Minister Piyush Goyal marks the first “India-UK ‘Energy for Growth’ Dialogue” which will serve to boost bilateral energy ties between the two countries.
According to the Economic Times’ Energyworld, the UK secretary of state and Indian energy minister will begin talks discussing innovation in smart technology to reduce power sector losses and clean energy finance.
Other topics up for discussion include decentralised energy scale up and sustainability; and support to states in renewable energy planning and deployment.
Energyworld says that the UK and India will also work to “accelerate the deployment of renewable energy and its integration with the grid, support for increased energy efficiency; and enhanced energy access for strengthening ties.”
In 2015, the two countries signed a memorandum of understanding to collaborate in the energy sector, and reaffirmed their commitment with 240 million pound investment in a joint fund. The fund will focus its initial investments on India’s fast-growing energy and renewables market.
Both ministers acknowledged the efforts by Energy Efficiency Services Ltd (a joint venture company of PSUs of the Indian government’s Ministry of Power) which has established operations in the UK with an investment of £7 million in seven energy saving projects after a rigorous technical and financial review. [Analysis: Energy efficiency initiatives in India]
India receives $200m ADB loan
In related news, the government of India secured a $200 million loan from the Asian Development Bank (ADB) to accelerate deployment of its energy efficiency programmes.
The Indian government plans to use the $200 million ADB loan through its energy conservation subsidiary Energy Efficiency Services Limited (EESL) to save up to 3,800GWh per annum.
EESL will direct the $200 million towards the government’s energy conservation programme ‘National Mission for Enhanced Energy Efficiency’. [Indian utility to improve building energy efficiency in Coimbatore]
Raj Kumar, secretary of the Department of Economic Affairs in the Indian Ministry of Finance, said: “Several initiatives to enhance energy efficiency in energy intensive businesses have already been launched by the government under NMEEE with an aim to unlock the market for energy efficiency projects that is estimated at over $1 billion.” Read more…
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