At the India Smart Utility Week 2020, the Indo-European Union (EU) Flagship Call made an announcement on the Integrated Local Energy Systems.
The latest partnership will help India and the EU in project of Clean Energy and Climate. Furthermore, it will also foster energy research and innovation, especially in the field of renewable energy and its inclusion into the energy system. Experts reveal the tie-up will make energy supply cleaner, more efficient and affordable.
According to reports, the Indo-EU flagship call abides by the European Union’s and India’s project in Mission Innovation (MI). It is a global initiative of 24 countries and the European Commission will help to strengthen global energy innovation with a focus to make clean energy more affordable.
The Indo-EU flagship will help in providing positive solutions with regards to local integration across several energy vectors which will help in augmenting the share of renewables.
Furthermore, the India Smart Utility Week 2020 announced the India-Sweden Collaborative Industrial Research & Development Program. The project will allegedly be co-funded by the Indian Department of Science & Technology (DST) and Swedish Energy Agency, which will focus on the challenges faced by the industry for Smart Grids.
The collaborative program between India and Sweden for Smart Grids is supported by a collective investment of 5 Million USD which will augment growth in the clean energy sector. Sources allege, DST and the Swedish Energy Agency have launched a funding mechanism to further help companies seeking support for joint Research and Development projects.
The latest collaboration will also bring together research organizations, academics, companies and other significant collaborators from the two countries for the joint development of innovative processes and products.
In addition, the Swedish Energy Agency has contributed 2.6 MUSD over four years for research and collaboration in smart grids with India. DST will reportedly also fund a matching investment of INR 18 Crore to support Indian partners in industrial Research and Development projects.