November 7 (SeeNews) - India and the UK are creating a research and development (R&D) centre focused on solar energy storage and integration with joint investment of GBP 10 million (USD 12.4m/EUR 11.2m).
The India-UK Clean Energy R&D Centre is one of the research partnerships announced by the two governments in a joint statement today on the UK prime minister's visit to India from November 6 to November 8.
The centre and a collaborative R&D programme on energy efficient building materials would help to reduce carbon footprint and contribute to India's Smart Cities programme, according to the announcement.
Theresa May and India's prime minister Narendra Modi also "looked forward to other Indian entities, including Energy Efficiency Services Limited and the Indian Renewable Energy Development Agency preparing to issue green bonds including rupee-denominated bonds in London in the coming weeks," the statement said. The comment was in relation to an agreement to accelerate the partnership between the two countries in financing investment in Indian infrastructure.
— Narendra Modi (@narendramodi) 7 November 2016
(GBP 1.0 = USD 1.243/EUR 1.121)