The Ministry of Power, India and Ministry of Energy, Utilities and Climate, Denmark signed Memorandum of Understanding on Energy Cooperation.

Highlights

Under the MoU, the countries have agreed to collaborate in areas such as long- term energy planning, offshore wind, consolidation of grid codes, incentivize power plants, increase flexibility in power purchase agreements. Through this, the Indian electricity markets are to benefit to a larger extent.

A joint work group is to be set up to establish specific details.

Recent news about Denmark

In April 2020, the United States offered financial aid to Greenland that angered Denmark. Greenland is an autonomous island that is under the territory of Denmark Kingdom. The financial help being offered are seen by Denmark as extension of colonial policy of US towards Greenland.

Greenland has largest deposits of rare-earth metals such as praseodymium, neodymium, dysprosium and terbium. For a long time, China has been the supplier of these rare-earth metals. Also, Arctic ice is melting at faster rate and opening up waters for maritime and military trade.