India, Japan to enhance cooperation in field of energy, natural resource

Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe on Monday affirmed their intention to continue working together to further strengthen energy cooperation including energy efficiency, renewable energy and coal-fired generation technology field through the India-Japan Energy Dialogue.

Array

The two Prime Ministers, who issued a joint statement after their annual summit meeting in Tokyo, instructed their respective relevant authorities to further enhance cooperation in the following cooperation programmes and projects.

India and Japan welcomed the signing of a Memorandum of Understanding between the Ministry of New and Renewable Energy of India and the Japan Bank for International Cooperation (JBIC) in the field of new and renewable energy.

The two nations welcomed enhanced cooperation in construction of highly efficient and environment-friendly coal-fired power plants and progress on cooperation in Clean Coal Technologies (CCT) such as renovation and modernization of the plants and underscored the importance of cooperation in promoting these environment-friendly technologies in international fora.

They also welcomed the signing of the loan agreement between the State Bank of India and the Japan Bank for International Cooperation (JBIC) for the super-critical coal-fired power project in Meja in Uttar Pradesh and the launch of a feasibility study by JICA of a potential yen loan project for Barauni super critical thermal power plant in Bihar.

India and Japan also welcomed substantial agreement on the commercial contract between Indian Rare Earths Limited (IREL) and Toyota Tsusho Corporation (TTC) for the production of rare earths as a significant step in India-Japan Strategic and Global Partnership, and reiterated their strong will for the finalisation of the commercial contract as well as the commencement of commercial production at the earliest.

Both sides welcomed progress of cooperative efforts in energy efficiency improvement, including steel, cement, and mechanical tools in India.

The two nations applauded the MOU signed in August 2014 for the model project by New Energy and Industrial Technology Development Organization (NEDO) for energy management system in telecommunication towers. They also applauded progress of discussion on business cooperation in renewable energy after the first India-Japan Public-Private Round Table for Renewable Energy held in India in January 2014.

New Delhi and Tokyo also welcomed the technology exhibition and business matching activities being held by NEDO in India in September 2014.

India and Japan welcomed progress in renewal of iron ore trade arrangement in 2015. They also recognized the importance of further cooperation regarding technologies and investments in iron and steel industry in India.