India and Australia on Tuesday inked a letter of intent for working together towards reducing the cost of new and renewable energy technologies and scaling up their deployment to reduce emission globally.
The letter of intent (LoI) was signed at the 4th India Australia Energy Dialogue, as per a power ministry statement.
According to the statement, the dialogue was co-chaired by Minister for Power and New & Renewable Energy, R K Singh and Minister for Energy and Emissions Reduction, Angus Taylor from Australia.
This LoI will pave the way for working towards reducing the cost of new and renewable energy technologies and scaling up their deployment in order to accelerate global emissions reduction, it stated.
The focus of this LoI will be scaling up manufacture and deployment of ultra low-cost solar and clean hydrogen, it stated.
There is an urgent need to focus on advancing technology and clean energy transition. In this context, the agreed forward action plan includes areas like
