Cabinet chaired by the PM Modi apprised of a GFA on RE Cooperation between India and UAE

The Union Cabinet chaired by PM Narendra Modi was apprised of General Framework Agreement (GFA) on Renewable Energy (RE) Cooperation between India and UAE.

 The General Framework Agreement was signed by the two nations on 11th February in New Delhi this year during the state visit of Crown Prince of UAE. The GFA aims at cooperation between India and UAE in the field of new and renewable energy technologies

MNRE in a statement said the objective of this GFA is to establish the basis for a framework through which extensive projects, investments, other forms of commercial endeavors, cooperation in research and development in renewable and clean energy, and knowledge sharing platforms could be enacted on the basis of mutual benefit, equality and reciprocity between the Parties.

The agreement will provide opportunity for exploring potential renewable energy projects for investments, cooperating in the International Solar Alliance and explore avenues of cooperation in research and development in renewables. The framework agreement will also focus on  developing knowledge-sharing mechanisms to build upon the human capital of the Parties; exploring establishing a joint fund between the Parties to facilitate investment and forms of coonperation as mutually agreed by the Parties.