The National Solar Energy Federation of India (NSEFI) and SolarPower Europe have inked a Memorandum of Understanding (MoU) to enhance their cooperation in solar manufacturing, with the objective of establishing a diversified and robust supply chain. This strategic alliance is aimed at overcoming global trade uncertainties through a more stable route for solar manufacturing between India and the EU.
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Collaborative Objectives: The MoU targets the recognition of business and finance prospects for solar manufacturing ventures with the strengths of complementary European and Indian businesses.
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Specialist Transfer: European manufacturers provide high-performing capabilities and technical competence, whereas India has a growing domestic base for manufacturing.
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Regulatory Facilitation: The deal features an attempt to tackle regulatory hindrances and secure policy interaction for increasing market entry of solar gear.
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Global Reach: This alliance is consistent with the India-EU Clean Energy and Climate Partnership (CECP), which upholds both regions' clean energy aspirations and supports a global transition toward clean energy.
This new partnership is under the SolarPower Europe's International Solar Manufacturing Initiative (ISMI), which encourages global cooperation in solar manufacturing, especially in the upstream equipment manufacturing.
Source Name: MoneyControl, Solar Storage Extra, Economic Times.