Mr. Goyal build up on the agreements made during visit of Prime Minister Narendra Modi to the UK in November 2015.
An official delegation comprising Secretary, Ministry of New and Renewable Energy, Joint Secretary, Ministry of New and Renewable Energy, Director (Technical), IREDA and nine member business delegation accompanied Mr. Goyal on his UK visit.
During his two day visit Mr. Goyal met officials from Natgrid and UK Power Network. The officials briefed the Minister about their functions and capabilities and on how they can contribute on enhancing grid stability in India.
The Minister on his part explained about his plans and vision to increase the power generation in India. Mr. Goyal also briefed them about renewable energy scale up plan which has been drawn up to 2022.
Mr. Goyal informed UK officials that:
"In a bid to bring the global community together on a larger platform of cooperation, Prime Minister Narendra Modi launched International Solar Alliance."
"India has set a renewable energy target of 175 GW by 2022 that comprises 100 GW of solar and 60 GW of wind capacity."
"The idea is to make power available to all at affordable prices."
"India and UK are natural partners and deeper engagement can lead to a win for both."
"India set to become largest energy market representing the aspirations of a billion plus people in the coming years."
Mr. Goyal meets UK Minister for Energy and Climate Change:
Mr. Piyush Goyal also met Lord Bourne, UK Minister for Energy and Climate Change and discussed about enhancing future cooperation between India and UK in the energy sector. The Minister also met Lord Jim O'Neill, Commerce Secretary to the Treasury and Mr. Nick Hurd, Minister, Department of International Development and discussed about enhancing bilateral relationship particularly in the power sector.
He emphasised the need for the developed world to show its commitment towards climate change by putting money in climate finance. He mentioned that India needs low cost long term finance for its ambitious renewable energy scale up plans and finance hubs like London could take a front seat in mobilising it.
Mr. Goyal on ties between India and UK:
Mr. Goyal also emphasised on the historical, cultural and financial ties between India and the UK and hoped to work on it expeditiously to strengthen and deepen the bilateral engagement.
The Minister met the media during the visit and briefed about steps the Indian Government is undertaking to improve energy access, rapid scale up of renewable energy, enhancing grid reliability, integration of renewables in the grid and the massive opportunity presented by the untapped demand in the Indian market.