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A senior executive from the International Renewable Energy Agency (IRENA), said that India will have many opportunities to share its expertise and products in renewable energy with developing countries. This will drive international cooperation on energy transition during India’s upcoming G20 presidency.
India will be the G20 president from December 1, 2022 to November 30, 2023. It will also host the G20 leaders summit in 2023. G20 is the most important forum for international economic cooperation and plays an important part in global economic governance.
Binu Parthan (IRENA’s head of regions) said in Singapore that India will have significant opportunities to influence the world through its holistic approach to renewable energy development in different forms.
He envisions India as supplying renewable energy solutions, such as solar panels, to other developing nations. This will make it more affordable from an investment perspective.
He said that India will have many opportunities to share its expertise and products in renewable energy with countries throughout the region and beyond. Parthan also appreciated India’s model for encouraging private sector participation to renewable projects through price-based auctioning of the opportunities to set up new renewable energy plants.
This is a remarkable and innovative approach to developing renewable energy options. These can be replicated anywhere in the world, he stated, adding that IRENA supports India’s Green Hydrogen Mission.
He sees Indian manufacturers producing renewable energy products as a positive for market development. We believe the entire RE ecosystem will help to accelerate the global energy transition.
The Ministry of New and Renewable Energy (MNRE) signed a strategic partnership arrangement with IRENA (167 member country) in January 2022. This agreement indicated its intention to strengthen its cooperation with IRENA in Renewable Energy. India has installed 13 gigawatts of renewable energy in 2021, and its capacity has increased by more than 53 GW over the past five years. This position makes India one of the most rapidly growing adopters of renewable energy in the world.
Francesco La Camera, Director General of IRENA, had met with Bhupender Singh Yadav, Minister of Environment, Forest and Climate, to discuss renewable energy during his recent visit to New Delhi.
Yadav called upon IRENA to help India achieve the enhanced climate goals, particularly Solar Energy, due to IRENA’s vast global experience in renewable energy.