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Mongolia|opinion & analysis|August 17, 2015 / 04:11 PM
India approves renewable energy memo of understanding with Mongolia

AKIPRESS.COM - wind energy The Indian government has given its final approval to memoranda of understanding on cooperation in the renewable energy sector with France and Mongolia signed earlier this year, Clean Technica reports.

The agreements were signed by the countries involved during Prime Minister Modi’s visit to these countries.

While the agreement calls for technical cooperation on an institutional level which may include sharing of expertise between universities and technical institutes, India would like to get access to the much needed financial aid for achieving its ambitious renewable energy targets.

The memorandum of understanding with Mongolia is aimed at encouraging technical cooperation in the renewable energy sector. However, the agreement seems more of a strategic gameplay in ‘China’s backyard’ and is unlikely to help India achieve its own renewable energy targets. The knowledge exchange, however, may eventually help Mongolia develop a strong renewable energy infrastructure as it has significant wind as well as solar energy resources.

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