I2U2 countries to help India build a 300 MW renewable energy project. This summit held on July 14 is the First ever leader virtual summit.
I2U2 (India-Israel-UAE-US) Countries witnessed its first-ever virtual summit on July 14.
Source- PIB
I2U2 countries on Thursday proposed to help Gujarat in establishing a 300 megawatts (MW) renewable energy project. The project will involve the production of wind and solar energy accompanied by battery energy storage, the group said in a statement.
I2U2 Summit comprised four countries ~ India- Israel-UAE-US. Prime Minister Narendra Modi joined Israeli President Yair Lapid, UAE President Mohammad Bin Zayed Al Nahyan and US President Joe Biden for the First leader’s virtual summit on July 14 according to a press release from the Ministry of External Affairs.
PM Modi took to Twitter and wrote “Addressing the I2U2 Summit” and shared a video.
Prime Minister Narendra Modi addressing the I2U2 Summit.
“From this very first Summit, I2U2 has established a positive agenda. We have identified joint projects in various sectors and prepared a roadmap to go ahead”, he said.
Online News Network ANI Digital tweeted, ” I2U2 group will advance a hybrid renewable energy project in Gujarat consisting of 300 MW of wind and solar capacity”.
In another post tweeted- “I2U2 agenda positive, a good model in times of global uncertainties: PM Modi”.
Focus Areas of I2U2 Summit
The four group country’s summit focused on several areas like renewable energy generation and food security crisis.
- Achieving the goal of India for Renewable Energy Generation
The I2U2 Group will take steps to help India (Gujarat) with 300 MW of energy generation through renewable sources like wind and Solar energy sources, the joint statement said.
“The U.S. Trade and Development Agency funded a feasibility study for the $330 million USD project. UAE-based companies are exploring opportunities to serve as critical knowledge and investment partners.
Israel and the United States intend to work with the UAE and India to highlight private sector opportunities.
Indian companies are keen to participate in this project and contribute to India’s goal of achieving 500 GW of non-fossil fuel capacity by 2030.
Such projects have the potential to make India a global hub for alternate supply chains in the renewable energy sector,” the joint statement added.
This project, if completed in a proper manner will definitely play a significant role in helping India fulfill its climatic goals. India had pledged 5 goals at COP 26 held in Glasgow, UK.
Among them, one of the goals was Increasing Non-Fossil energy capacity to 500 Gigawatts By 2030. Consequently, India will become a global hub for non-fossil fuel generation.
“The leaders also welcomed India’s interest in joining the United States, the UAE, and Israel in the Agriculture Innovation Mission for Climate initiative (AIM for Climate),” the joint statement said.
- Addressing Food Security Crisis
In this meeting, the group also explored experimental ways for more varied food production as well as food delivery systems.
The joint statement asserted that New Delhi will provide land and accelerate farmers’ integration into the food parks.
UAE is the home to the International Renewable Energy Agency (IRENA) and the host of COP28 in 2024.
In consideration of food security, I2U2 leaders asserted in a joint statement that the UAE will fund $2 billion US dollars to aid in building integrated food parks across India.
This would lead to the use of renewable energy sources, stop food waste and spoilage as well as conserve water.
During this summit, I2U2 leaders showed their resoluteness toward boosting sustainable food systems and food security.
The initiative will help tackle food insecurity in South Asia and the Middle East.
Aim of I2U2 Summit
The I2U2 Virtual Summit is aimed toward the increase of joint investments in six pivotal areas. These areas are water, energy, transport, space, health, and food security.
This newly formed “I2U2” is being projected as “the Quad for West Asia”.
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