Denmark, India firms can collaborate in big way in renewable energy sector, says Danish minister

Firms from India and Denmark can collaborate in a big way in the field of renewable energy and Denmark can learn from India's ability to bring down the tariff for renewable sources of energy, minister for energy, climate and utilities, Lars Aagaard, said on Tuesday (28).

The minister is part of a delegation led by Crown Prince of Denmark Frederik André Henrik Christian on a visit to India earlier this week.

Addressing a round table on energy, the minister noted India's plan to have 500 GW of renewable energy by 2030 and net zero by 2070.

He sought cooperation between both countries in the field of renewable energy, given Denmark’s advances in wind energy, both offshore and onshore.

Aagaard said, “Danish companies are very strongly connected to renewable, especially everything connected to wind energy on shore and off shore."

"We are also seeing a lot of development in producing green hydrogen and energy efficiency... Danish companies can find a lot happening here. They can help each other on a commercial basis (in India)," he said.

India has considerably brought down tariff of renewable energy especially solar through e-reverse auction of projects. India's solar and wind power tariffs had touched all-time low levels of Rs 1.99 (£0.020) per unit and Rs 2.43 (£0.025) per unit under these auctions.

"We can learn from your development on solar energy. We can learn from your ability to bring down cost and we can embark on the (green) hydrogen future together," Aagaard said,

Danish minister of foreign affairs, Lars Løkke Rasmussen, said, “We recognise India's role in achieving global roles in green and sustainable goals and we support it fully."

As many as seven memorandum of understanding (MoU) between Danish and Indian firms were signed during the conference.

Two academic institutions – the Technical University of Denmark (DTU) and Indian Institute of Technology Bombay (IIT Bombay) – also entered into a strategic partnership within water and energy that will build a bridge between researchers and students in both countries as well as pave the way for collaboration with industry and authorities.