The Union Cabinet chaired by the Prime Minister Shri Narendra Modi was apprised of a General Framework Agreement (GFA) on Renewable Energy Cooperation between India and United Arab Emirates (UAE). The GFA was signed, in New Delhi on 11th Februarythis year during the state visit of Crown Prince of UAE.
The objective of this GFA is to establish the basis for a framework through which extensive projects, investments, other forms of commercial endeavours, cooperation in research and development in renewable and clean energy, and knowledge sharing platforms could be enacted on the basis of mutual benefit, equality and reciprocity between the Parties. The GFA aims at cooperation between India and UAE in the field of new and renewable energy technologies.
The GFA will provide opportunity for exploring potential renewable energy projects for investments; Continue cooperating in the International Solar Alliance; exploring avenues of cooperation in research and development in renewables; developing knowledge-sharing mechanisms through which to build upon the human capital of the Parties; exploring establishing a joint fund between the Parties to facilitate investment: forms of cooperation as mutually agreed by the Parties.