Today’s event on “Solar Energy – Diversification of the Global Supply Chain and EU-India Cooperation in the Area of Manufacturing” was launched by European Commissioner for Energy Ms. Kadri Simson and Minister of State for New and Renewable Energy, Chemicals and Fertilizers Mr. Bhagwanth Khuba. A two-day trip to India is being made by Commissioner Kadri Simson from September 7 to 8.
Along with a significant presence from the European and Indian business communities, the event was jointly organised by the European Union and the Ministry of New and Renewable Energy, Government of India, in close collaboration with the Confederation of Indian Industry (CII) and SolarPower Europe.
The Energy Commissioner emphasised the value of solar energy for Europe in her opening remarks on the first day of her tour, as well as the expanding collaboration between the EU and India under the 2016 Clean Energy and Climate Partnership. She also emphasised the need for a safe and diverse supply chain, especially by boosting PV manufacturing capabilities around the globe. She emphasised the importance of free, open, and regulated markets for solar energy.
“The EU and India have collaborated to assist the solar industry under our 2016 Clean Energy and Climate Partnership. Still, there is a lot of unrealized promise. As Commissioner Kadri Simson noted, “Currently we have a scenario where one nation mostly controls the manufacturing market of Solar PV.
We can further develop our collaboration and jointly address how to secure global supply chains for solar PV and improve production around the globe. Together, let’s grow this market.
Mr. Bhagwanth Khuba, Minister of State for New and Renewable Energy, Chemicals, and Fertilizers, focused on the need for supply chain diversification and India’s plans to increase Solar PV cell and module production through the Production Linked Incentive Scheme with a total outlay of Rs. 24000 crores. He emphasised the Clean Energy and Climate Partnership cooperation between India and the EU and emphasised the necessity of collaborative R&D in solar PV technology.
In order for the EU and India to fulfil their commitments under the Paris Agreement, clean and renewable energy is crucial. The need to act now has been confirmed by the extreme weather events that have occurred in both regions over the past several years. The EU has made the decision to quicken its transition to sustainable energy, in part because of Russia’s actions toward Ukraine. The European Union intends to diversify away from importing fossil fuels from Russia and advance its transformation to a green economy under its new solar policy, which was unveiled in May 2022 as part of REPowerEU.
Businesses from Europe and India participated actively in the event as experts talked about the value of diversifying the world’s supply chains and the collaboration between the two countries in the industrial sector. International Energy Agency, SolarPower Europe, European Investment Bank, Enel Green Power SpA, REC, International Solar Alliance, CII, National Solar Energy Federation of India, India First Solar, Apraava Energy, Engie India, Tata Power Solar, Adani Transmission Ltd, ReNew Power, Jackson Group, RIS, Solar Energy Corporation of India Limited, Indian Renewable Energy Development Agency, and Fortum India Pvt Ltd. were among the participants.
EU-India Partnership on Clean Energy and Climate
The Clean Energy and Climate Partnership, which was adopted at the EU-India Summit on March 30, 2016, serves as the framework for the current climate and energy relations between the two countries.
Its goals include enhancing cooperation on clean energy, advancing joint initiatives for the deployment of climate-friendly energy sources, and ensuring that the Paris Agreement is implemented. A new connectivity partnership was approved at the Leaders Meeting in Porto in May 2021 with a view to assisting the implementation of the Clean Energy and Climate Partnership.
The energy conversation between the EU and India has gotten more serious recently. Energy efficiency in buildings, solar energy, offshore wind energy, integration of renewable energy through smart networks, electricity market regulation, and biofuels are just a few of the areas where they effectively collaborate. The EU and India resolved to include additional areas of shared interest, such hydrogen, in December 2021.
