India and Italy will develop partnerships in key renewable energy sectors such as green hydrogen, biofuels, and energy storage. The decision was taken in a meeting between the Minister of External Affairs, India and his Italian counterpart.
Reportedly, the discussion also covered the implementation of the India-Italy Strategic Partnership on Energy Transition, which was announced in 2021. As per the statement, they also decided to jointly organise an India-Italy Tech Summit on Energy Transition and Circular Economy, to be held in New Delhi on November 17, 2022. Furthermore, discussion about a wide range of bilateral relations, including progress on the 2020–2024 ‘Action Plan’, which was established in November 2020, took place during the meeting.
Previously, the Prime Minister and Germany Chancellor signed a joint declaration in Berlin according to which Germany has pledged $10.52 billion support to India until 2030 to help the country meet its target of raising its non-fossil energy generation capacity to 500 GW.
In April 2022, ITT Inc. announced the construction of a photovoltaic lake at its largest factory in Barge, Italy. The lake would be about the size of four Olympic swimming pools and would be made up of approximately 3,000 solar panels. As per the company’s statement, $2.5 million investment is part of ITT’s long-term strategy to become more sustainable.