India, US sign MoU to enhance cooperation in energy security, clean energy ahead of Narendra Modi's visit

Secretary, Ministry of Power, P.K. Pujari and U.S. Ambassador to India Richard R. Verma signed the MoU on behalf of their respective governments.

ANI| Last Updated: Jun 03, 2016, 07:55 AM IST

New Delhi: India and the United States (U.S.) on Thursday concluded a Memorandum of Understanding ( MoU) to enhance cooperation on energy security, clean energy and climate change .

Secretary, Ministry of Power, P.K. Pujari and U.S. Ambassador to India Richard R. Verma signed the MoU on behalf of their respective governments.

Speaking on the occasion, Pujari said, "The U.S. and India are already working in some areas and the MoU will help expand our horizon. It will provide framework to work more closely not only for betterment of our own people, but also for creating a positive environment for US companies working in India."

Appreciating efforts of the Indian Government, Verma, said "The MoU will provide momentum for cooperative work, which needs to be done in fields of energy security, clean energy and climate change."

The objective of the MoU is to enhance cooperation on energy security, clean energy and climate change through increased bilateral engagement and further joint initiatives for promoting sustainable growth.

These activities are intended to increase incentives for innovation, including research and development, and voluntary and mutually-agreed technology transfer, as well as the deployment of clean energy technologies in both countries; contribute to a global effort to curb the rise in greenhouse gas emissions; and enhance resilience to the impacts of climate change.

The Priority initiatives under the MoU would be US-India Energy smart cities partnership, greening the grid, Promoting Energy Access through Clean Energy (PEACE) expansion, energy efficiency including space cooling, renewable energy, energy security, clean energy finance, U.S-India partnership for climate resilience, air quality, forestry, landscapes and REDD, fellowships, and accelerating innovation on clean energy and climate change.