GS Paper III
News Excerpt:
The Union Cabinet approved the signing of the Memorandum of Understanding (MoU) between India and the United States for International Development/India (USAID/India), on June 14, 2023, for supporting Indian Railways (IR) to achieve the Mission Net Zero Carbon Emission by 2030.
The MoU signed by Indian Railways with the USAID/India is for enabling energy self-sufficiency with the following understanding:
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Significance of this MoU:
- The MoU provides a platform for Indian Railways to interact and share the latest developments and knowledge in the railway sector.
- The MoU facilitates utility modernization, advanced energy solutions, and systems, regional energy, and market integration.
- It also facilitates private sector participation and engagement, training, and seminars/workshops focusing on specific technology areas like Renewable Energy, energy efficiency, and other interactions for knowledge sharing.
- Earlier, USAID/India had also worked with IR focused on the deployment of rooftop solar across railway platforms.
Expenditure involved:
- Technical assistance for the services under this MoU is intended to be provided by USAID under the SAREP (South Asia Regional Energy Partnership) initiative.
- SAREP is a flagship program to advance the objectives of the U.S. Government’s Clean Asia Enhancing Development and Growth through Energy (Clean EDGE) initiative.
- SAREP improves access to affordable, secure, reliable, and sustainable energy in six countries – Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka – to strengthen systems and processes in line with the economic and energy-security priorities of these countries.
- This MoU is not an obligation of funds or a commitment of any kind, and it is non-binding.
- This does not involve any financial commitment from Indian Railways.
What will be the impact of this action?
- The MoU has been signed to support Indian Railways in achieving Mission Net Zero Carbon Emission (NZCE) by 2030.
- This will help Indian Railways to reduce dependence on imported fuel such as Diesel, Coal etc. The deployment of Renewable Energy (RE) plants will give a fillip to RE technology in the country.
- This will help in the development of the local ecosystem which subsequently gives a boost to local product development.