Forward Action Plan

India and the United Kingdom have inked pact on ‘Forward Action Plan on power & clean transportation, renewables, green finance, and green energy research” under its 2030 roadmap.‘Forward Action Plan’ was discussed at the “3rd India-UK Energy for Growth Partnership – Ministerial Energy Dialogue”, in the backdrop of “United Nations Climate Change Conference (COP-26)” which is set to start from October 31 in Glasgow.

Key discussions held during meeting

• Both the countries deliberated and agreed on a ‘Forward Action Plan. The action plan covers several topics such as energy storage, smart grids, charging infrastructure, green hydrogen, battery storage and need of mobilising investments across renewable energy.
• This action plan was agreed upon in the backdrop of India and the UK plan of exploring the possibility to set up a “world bank for green energy”.
• The UK had also announced a $1.2 billion package for public and private investment earlier, in green & renewable energy projects. It also expressed its plan to collaborate with India on green hydrogen.

Green hydrogen

• It is produced by splitting water into hydrogen and oxygen by electrolyser which is powered by electricity from renewable energy like wind and solar.
• This can be a game change for energy sector in India and help in reducing imports.
• India currently imports 85% of its oil and 53% of its gas demand.