India, Argentina to strengthen ties in renewable energy

India and Argentina have agreed to enhance cooperation in the field of renewable energy.

In a meeting with a delegation led by Dr. Antonio Bonfatti, Governor of Santa Fe. Rosario Province, Argentina, Dr. Farooq Abdullah, Union Minister for New and Renewable Energy conveyed the willingness of the Government of India to enhance bilateral ties and economic cooperation with Argentina especially in the field of renewable energy.

Collaboration in sectors of bio-diesel and possibilities of future commerce and business in bio-fuel were also discussed. Dr. Antonio Bonfatti agreed that the two countries should use their full potential to enhance cooperation and bilateral ties.

Dr. Abdullah informed the visiting dignitaries about the National Policy on Bio-fuels which was announced in December, 2009 and endeavors to bring about development and utilization of indigenous feedstock for production of biofuels.

He highlighted the Indian approach to biofuels which is based solely on non-food feedstock to be raised on degraded or wastelands that are not suited to agriculture, or through use of wastes and residues, thus avoiding a possible conflict of fuel and food security.

Dr. Abdullah also informed the visiting delegation that the Ethanol Blended Petrol (EBP) Programme is currently being implemented by the Oil Marketing Companies (OMCs) with the overall aim of achieving on EBP of 5 percent.

On this occasion, Dr. Abdullah also spoke about the energy situation in India and the rapid growth of the renewable energy sector in India.

He spoke of India's plans to add over 30 GW of renewable energy to its energy mix in the next five years. He dwelt on the success of the wind programme as well as the significant cost reductions in solar energy through the Jawahar Lal Nehru National Solar Mission (JNNSM).

He also highlighted India's conducive and investor friendly policy framework for promoting renewable energy in a big way. He offered all possible assistance from India to the development of the renewable energy capacity of Argentinian officials and regulators.