Both the nations will work on developing a strong, deep and long-term co-operation in the power sector on the basis of equality, reciprocity and mutual benefit, stated Indian Ministry of Power in a statement released on 8th June.
The MoU was signed by Secretary (Power) from the Indian side and Ambassador of Denmark to India from the Danish side.
The MoU provides for collaboration in areas like offshore wind, long term energy planning, forecasting, flexibility in the grid, consolidation of grid codes to integrate and operate efficiently variable generation options, flexibility in the power purchase agreements, incentivize power plant flexibility, variability in renewable energy production etc.
The Indian electricity market would benefit from cooperation with Denmark in these areas, the ministry stated.
For implementation of the identified areas, a Joint Working Group (JWG) will be established under the MoU.
The ministry also said that the JWG will be co-chaired by Joint Secretary level officials and will report to a Steering Committee, jointly chaired by the Secretary level officer from both the sides.
It further added that the Governments will endeavour to take necessary steps to encourage and promote strategic and technical co-operation in the power sector for mutual benefit in the identified areas through the MoU.