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India has said it is working towards early allocation of the second site for the construction of the Russian-designed nuclear power plant as Moscow assisted Kudankulam nuclear power plant has already started generating power.
A joint statement issued by both sides after the bilateral meeting between Indian Prime Minister Narendra Modi and Russian President Vladimir Putin said, "The Indian side stated it is working towards early allocation of the second site for the construction of the Russian-designed NPP. Both Sides appreciated the progress being made in the implementation of the Programme of Action for Localization between Russia's Rosatom and India's Department of Atomic Energy with active engagement of Indian nuclear manufacturing industry for local manufacturing in India of equipment and components for upcoming and future Russian-designed nuclear power projects in the context of the serial construction in India of Russian-designed Units.
"They noted with satisfaction continued senior official level interactions between their atomic energy establishments, including under the framework of the three Joint Working Groups on Nuclear Fuel, Science and Technology and Nuclear Power, and the Central Working Group on Localization set up during the last two Summits. The Indian Side also congratulated the Russian Side for successfully hosting the ATOMEXPO in May 2016, which was attended by senior Indian officials and nuclear industry representatives from both public and private sectors of India," said the statement.
Both sides also noted with satisfaction that robust civil nuclear cooperation, collaboration in hydrocarbon sphere, long term LNG sourcing interest, work on the hydrocarbon energy pipeline and cooperation in renewable energy sector constitute a promising "Energy Bridge" between the two countries.
The two partners affirmed that their successful nuclear energy cooperation, which has already started generating electricity at the Kudankulam nuclear power plant, is one of the most tangible and substantive aspects of their strategic partnership.
"The sides reaffirm their intention to further expand cooperation under the "Strategic Vision to Strengthen Cooperation in the Peaceful Uses of Atomic Energy between the Russian Federation and the Republic of India" signed on December 11, 2014. In this context they noted with satisfaction a series of positive developments marked in their civil nuclear cooperation this year, including attainment of full power capacity of Kudankulam Unit 1, integration with electricity grid of Kudankulam Unit 2, commencement of the site work for Kudankulam Units 3 and 4, and the progress in discussions on the General Framework Agreement and the Credit Protocol for Kudankulam Units 5 and 6 with a view to conclude these documents before the end of 2016," said the statement.
Both leaders jointly dedicated Unit 2 of the Kudankulam Nuclear Power Plant to "India-Russia Friendship and Cooperation" and witnessed the laying of foundation concrete for Kudankulam Units 3 and 4 through video-links at a ceremony in Goa.
The leaders of both countries highly appreciated the progress made by Indian and Russian oil companies since the last Summit with the Indian companies acquiring equity in "Tass-Yuryakh Neftegazodobycha" and "Vankorneft" making it the largest equity oil acquisition hitherto by India.
With the aim of further strengthening oil and gas cooperation the Russian side expressed its interest in attracting Indian oil companies to participate in joint projects in the offshore-Arctic fields of the Russian Federation.
The two sides supported a wider use of natural gas as an economically efficient and ecologically clean fuel to promote sustainable development as well as to reduce the greenhouse gas emissions in accordance with the Paris Agreement on climate change.
Both sides reaffirmed their continued commitment to work together towards development of energy efficiency and renewable energy sources. In this context, they expressed readiness to strengthen and expand bilateral cooperation in the field of solar energy under the MoU signed on 24 December, 2015, between the Russian Energy Agency of the Ministry of Energy of the Russian Federation and the Solar Energy Corporation of India on building solar power-stations in India.
They emphasized on the need to provide assistance to the power sector companies of both countries in the development of cooperation in the sphere of modernization of existing power plants and construction of new power plants in India.
With regard to space cooperation, the two sides reaffirmed their commitment to pursue the immense potential to cooperate in outer space with a view to advance socially useful applications and scientific knowledge.
"They welcomed signing of a MoU for setting up and utilizing ground stations in each other's territories to enhance the usefulness of their respective navigation satellite constellations of GLONASS and NavIC.
Both sides emphasized that the space agencies' of India and Russia will engage more actively on space technology applications, launch vehicle, satellite navigation, space science and planetary exploration, said the statement.
The two nations also confirmed their commitment to elaborate within the Scientific and Technical Subcommittee of the UN Committee on Space a consolidated approach to the preparation of the set of guidelines for the long-term sustainability of outer space activities and regulatory provisions on safety of space operations, as the most important component of the said document.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)