India, Italy commit to 450 GW renewable energy target in strategic energy partnership

The two nations committed to strengthening cooperation in clean energy, renewable technologies, and sustainable development to address climate change.

Who it concerns: The agreement involves the governments of Italy and India. Specific ministries named include Italy's Ministry of Ecological Transition and India's Ministry of New and Renewable Energy, Ministry of Power, and Ministry of Petroleum and Natural Gas. It affects Italian and Indian companies operating in the energy, technology, and infrastructure sectors.

What was agreed

• Launch of a bilateral strategic partnership in energy transition.
• Tasking the Joint Working Group (established in 2017) to explore cooperation in Smart Cities, mobility, smart grids, gas transportation, waste management, and green energies (including green hydrogen, CNG & LNG, bio-methane, and bio-ethanol).
• Initiating a dialogue to support the development and deployment of green hydrogen and related technologies in India.
• Considering joint support for a large-size green corridor project in India to help achieve the target of 450 GW of renewable energy by 2030.
• Encouraging joint projects and investments by Italian and Indian companies in the natural gas sector, decarbonization technology, Smart Cities, and electrification of urban public transport.
• Sharing information on policy frameworks, grid planning, and financial instruments for clean energy transition.

Also in the document

• India’s target to deploy 450 GW of renewable energy by 2030 is explicitly cited as a basis for cooperation.
• Italy’s ratification and support for the International Solar Alliance is noted.
• Specific focus on 'green hydrogen' and 'second-generation bio-ethanol' as areas for joint exploration.
• The statement references the Memorandum of Understanding on Cooperation in the field of Energy signed in Delhi on October 30, 2017.