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Visit of Mr. Piyush Goyal, Minister of State (Independent Charge) for Power, Coal, New & Renewable Energy, Government of India to the UK on 19-20 April, 2016

Mr. Piyush Goyal, Minister of State (Independent Charge) for Power, Coal, New & Renewable Energy, Government of India visited the UK on 19-20 April 2016 to strengthen wider India-UK collaboration on power and renewable energy, building up on the agreements made during visit of Prime Minister Narendra Modi to the UK in November 2015.

The Minister was accompanied by an official delegation and a nine-member business delegation.

On the first day of the visit, the Minister met officials from Natgrid and UK Power Network who briefed the Minister about their functions and capabilities and on how they can contribute on enhancing grid stability in India. The Minister explained about his plans and vision to increase the power generation in India and that a plan for renewable energy scale up has been drawn up to 2022.

Minister Goyal also met Lord Bourne, UK Minister for Energy and Climate Change, Lord Jim O'Neill, Commerce Secretary to the Treasury and Mr. Nick Hurd, Minister, Department of International Development. During his meetings, he emphasised the need for enhancing bilateral relationship particularly in the energy & power sector future cooperation between India and the UK. He also emphasised the need for the developed world to show its commitment towards climate change by putting money in climate finance. He mentioned that India needs low cost long term finance for its ambitious renewable energy scale up plans and finance hubs like London could take a front seat in mobilising it.

He also emphasised on the historical, cultural and financial ties between India and the UK and hoped to work on it expeditiously to strengthen and deepen the bilateral engagement.

On the second day of the visit, the Lord Mayor of London hosted the Minister over a breakfast meeting which was followed by a roundtable on Financing for Renewables and Energy Efficiency which was attended by the prominent UK investors. During the meeting, the Minister apprised them about the energy demand growth of India and also added that India was looking at improvement of national grid, spinning reserve and planned to go beyond 2022.

Minister Piyush Goyal met investors at London Stock Exchange. The meeting had aimed at deeper engagement in infrastructure and clean energy financing. Among other things, issues of easing of regulatory mechanisms, green energy bonds, masala bonds and inflation linked tariffs were discussed. The Minister also interacted with the media and highlighted the improvement in energy efficiency in LED bulbs, fans and use of low cost agricultural pumps in India. He briefed them about steps the Indian Government is undertaking to improve energy access, rapid scale up of renewable energy, enhancing grid reliability, integration of renewables in the grid and the massive opportunity psented by the untapped demand in the Indian market.

Achievements and Initiatives of Ministry of Power, Coal and New & Renewable Energy

Apr 21, 2016
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