The Union Cabinet has been apprised of a General Framework Agreement (GFA) on renewable energy cooperation between India and UAE.
"The Union Cabinet chaired by Prime Minister Narendra Modi was apprised of a General Framework Agreement (GFA) on Renewable Energy Cooperation between India and United Arab Emirates (UAE)," the Ministry of New and Renewable Energy said in a statement today.
The GFA signed in New Delhi on February 11 during the state visit of Crown Prince of UAE aims at cooperation between India and UAE in the field of new and renewable energy technologies, it said.
The objective of this GFA is to establish the basis for a framework through which extensive projects, investments, other forms of commercial endeavours, 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, it added.
The GFA will provide opportunity for exploring potential renewable energy projects for investments, cooperating in the International Solar Alliance and seeking avenues of cooperation in research and development in renewables, the statement said.
Besides, the framework agreement will focus on developing knowledge-sharing mechanisms to build the human capital of the parties and exploring establishing a joint fund to facilitate investment, it added.
