Australia and India will work together to drive down the costs of new and renewable energy technologies under a new low emissions technology partnership agreement. Minister for Industry, Energy and Emissions Reduction Angus Taylor and the Minister of Power and New and Renewable Energy Raj Kumar Singh, during the fourth India-Australia Energy Dialogue signed The Letter of Intent between India and Australia on New and Renewable Energy Technology.
The agreement between both the countries recognize a common objective of driving down the cost of low and zero emissions technologies to be cost-competitive with higher emitting alternatives. Both countries have committed to work together on reducing the cost of clean hydrogen and ultra low-cost solar that are priorities under Australia’s Technology Investment Roadmap.
The agreement follows the meeting between Prime Minister Scott Morrison and Indian Prime Minister Narendra Modi in the margins of QUAD discussions held in September 2021. Minister Taylor said the partnership reflected each country’s respective strengths and the Government’s commitment to working with like-minded partners on low emissions technologies.
Both nations will also continue to collaborate through the Quad, G20, UNFCCC and the International Solar Alliance on the development and deployment of low emissions technologies in our region and across the globe.
The Letter of Intent is part of the Government’s $565.8 million commitment to support new international partnerships that make low emissions technologies cheaper and drive investment in Australia-based projects to create up to 2,500 jobs.