India to join International Renewable Energy Agency

The union cabinet has approved the proposal for India joining the International Renewable  Energy Agency (IRENA), and for contributing $112,500 in the first year to this world body. 

''The membership of IRENA will enable India to forge partnerships with other member countries at a multilateral level for accelerating development and deployment of renewable energy technologies,'' a government press release said.

The proposal for setting up International  Renewable Energy Agency (IRENA) as an inter-governmental agency was made by the Federal Republic of Germany, in June 2007.

IRENA has been created with the objective of spearheading the development and deployment of renewable energy sources at a global level, which also includes cooperation in terms of technology transfer and joint research and development of renewable energy technologies.

''Keeping in view IRENA's objectives and that it would be the only global inter-governmental body dedicated to renewables, India actively engaged itself in the consultation process and has decided to join IRENA as a founding member,'' the government release said.

''Development of renewables with  support of the global players and lead countries would have a positive impact on the country's energy security position in accordance with our nationally designed programme. The governance structure of IRENA is much akin to various multilateral organisations, including those of the UN,'' it added.