India and Denmark have signed an agreement to work together to expand renewable energy capacity. The aim is to promote information sharing for both countries' green energy transitions.
The Danish Energy Agency has announced that India’s Ministry of Power (MoP) and the Danish Ministry of Climate, Energy, and Utilities, have signed a memorandum of understanding (MoU) to help India work towards its target to install 450 GW of renewable capacity by 2030.
Through the memorandum, the countries plan to speed up the green energy transition in India for over five years. This new collaboration between the energy agencies of both countries is called the India-Denmark Energy Partnership (INDEP).
The INDEP cooperation will focus on the areas of energy planning and scenario modeling, integration of a higher share of renewable energy, power system flexibility, and electricity markets. Its goal is also to facilitate valuable knowledge exchange for the green energy transition in both countries.
“Green energy transition can help kickstart economies after the COVID-19 pandemic. The choices we take now to restart our economies will determine our ability to create new and permanent jobs and mitigate the impacts of pollution,” said Freddy Svane, the ambassador to Denmark.