On Tuesday, India and Australia officially launched their Renewable Energy Partnership (REP), a significant step aimed at enhancing two-way investments in the renewable energy sectors. The announcement came as Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese held discussions during their second India-Australia Annual Summit, which took place on the sidelines of the G20 Summit in Rio de Janeiro.
Strengthening the Comprehensive Strategic Partnership
During their talks, the two leaders reaffirmed their commitment to deepening the Comprehensive Strategic Partnership between their nations, covering areas such as defence and security, trade and investment, education, skills development, sports, space exploration, mobility, and people-to-people connections. This broad-based cooperation reflects the growing ties between the two countries across multiple domains.
Renewable Energy Collaboration
A major highlight of the summit was the formal launch of the India-Australia Renewable Energy Partnership. This partnership aims to leverage the complementary strengths of both countries to accelerate climate action. As outlined in a joint statement, the partnership will focus on priority areas including solar photovoltaic (PV) technology, green hydrogen, energy storage, and the development of a skilled workforce for the renewable energy sector.
The initiative will also facilitate two-way investment in renewable energy projects, with an emphasis on advancing technological innovations and scaling up deployment to meet net zero targets.
Boosting Investment and Innovation in Clean Energy
In his remarks, Prime Minister Albanese emphasised the significance of this partnership, stating, "Our renewable energy partnership is officially launched," and highlighting that it will foster mutual investment in sectors such as solar energy, green hydrogen, and workforce development for the renewable energy sector. He further noted the joint efforts aimed at driving the global transition to renewable energy as part of the broader commitment to achieving net zero emissions.
Both leaders acknowledged that the collaboration marks a new chapter in the ongoing partnership between India and Australia, with the potential to make a meaningful impact in the fight against climate change.
With inputs from agencies
Image Source: Multiple agencies
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