UN Climate Change Conference President Alok Sharma met Union Minister of Power and Renewable Energy RK Singh on Tuesday and conferred UK’s readiness for partnering with India on green hydrogen.
Mr Sharma, MP for Reading West, proposed the issue of eroding out of coal-fired power plants in the official meeting also attended by senior officials and High Commissioner of the United Kingdom in India.
Mr Singh said India has already retired 16,369 MW of inefficient thermal units till March 2021.
An official statement said: both sides expressed their willingness to explore the possibility of establishing a World bank for Green Energy which could materialise the proposal for $100 billion climate finance pledged by the developed countries under the Paris Agreement.
The UK authorities requested India’s endorsement for assembling a successful COP26 (UN Climate Change Conference of the Parties) which is to be conducted in Glasgow from October 31 to November 12.
The union minister showed India’s interest in the collaboration with the UK authorities. He further stressed the requirement of the developed and developing countries to work in unison and bring forth the cost-cutting measured along with the storage cost.
The minister notified the UK delegation that India is the first G20 country whose actions are in accord with the nationally determined contributions (NDCs) ascertained by them under the Paris Agreement.
During the official meet, discussions went on catering to the need of growing storage capacity as per India’s determined target of having 450 MW of installed Renewable Capacity by the year 2030. The UK side was invited to contribute to future bids for green hydrogen and lithium-ion.
Prime Minister Narendra Modi had proclaimed National Hydrogen Mission during his 75th Independence Day address to reshape India into a global focal point of green hydrogen production and export.