A Memorandum of Understanding (MoU) on Indo-Denmark Energy Cooperation has been signed between the Ministry of Power, Government of India and the Ministry for Energy, Utilities and Climate, Government of the Kingdom of Denmark.
The MoU was signed on Friday and aims to develop a strong, deep and long-term co-operation between two countries in the power sector on the basis of equality, reciprocity and mutual benefit.
The MoU provides for collaboration in areas like offshore wind, long term energy planning, forecasting, flexibility in the grid, consolidation of grid codes to integrate and operate efficiently variable generation options, flexibility in the power purchase agreements, incentivize power plant flexibility, variability in renewable energy production etc.
The Indian electricity market would benefit from cooperation with Denmark in these areas.
The Ministry of Power in a press note told that for the implementation of the identified areas, a Joint Working Group (JWG) will be established under the MoU. The JWG will be co-chaired by Joint Secretary level officials and will report to a Steering Committee, jointly chaired by the Secretary level officer from both the sides.
The Governments will endeavour to take necessary steps to encourage and promote strategic and technical co-operation in the power sector for mutual benefit in the identified areas through the MoU.