The Memorandum of Understanding on Indo-Denmark Energy Cooperation between the Ministry of Power, Government of the Republic of India and the Ministry for Energy, Utilities and Climate, Government of the Kingdom of Denmark to develop a strong, deep and long-term co-operation between two countries in the power sector based on equality, reciprocity and the mutual benefit was signed on 5th June 2020.
The MoU was signed by Mr. Sanjiv Nandan Sahai, Secretary (Power) from the Indian side and Mr. Freddy Svane, Ambassador of Denmark to India from the Danish side.
The MoU provides for collaboration in areas like offshore wind, long term energy planning, forecasting, flexibility in the grid, consolidation of grid codes to integrate and operate efficiently variable generation options, flexibility in the power purchase agreements, incentivize power plant flexibility, variability in renewable energy production, etc.
The Indian electricity market would benefit from cooperation with Denmark in these areas.
For the implementation of the identified areas, a Joint Working Group (JWG) will be established under the MoU. The JWG will be co-chaired by Joint Secretary level officials and will report to a Steering Committee, jointly chaired by the Secretary level officer from both the sides.
The Governments will endeavor to take necessary steps to encourage and promote strategic and technical co-operation in the power sector for mutual benefit in the identified areas through the MoU.
Recently, Oil and Natural Gas Corporation Limited (ONGC) and NTPC planned to set up a Joint Venture Company for the Renewable Energy business. The two Maharatnas entered into a Memorandum of Understanding (MoU) on 21 May 2020 in Delhi to formalize this arrangement. The MoU will enable both companies to achieve their targets in the Renewable Energy business. The MOU was signed by ONGC Director (Finance) and In-charge Business Development and Joint Ventures Subhash Kumar and Director (Commercial) NTPC, A K Gupta. ONGC CMD Shashi Shanker and NTPC CMD Gurdeep Singh (on Virtual conferencing) along with the Directors of two public enterprises witnessed the occasion.
As per the MoU, NTPC and ONGC will explore and set up Renewable Power assets including offshore wind, in India and overseas, and explore opportunities in the fields of sustainability, storage, E-mobility, and ESG (Environmental, Social and Governance) compliant projects.