As Prime Minister Narendra Modi met with his Australian counterpart Anthony Albanese on Tuesday, the two countries formally launched the Renewable Energy Partnership, which intends to increase two-way investment in the renewable energy sectors.

On the fringes of the G20 Summit in Rio de Janeiro, the two leaders held the second India-Australia Annual Summit, where they reaffirmed their commitment to advancing the Comprehensive Strategic Partnership in a wide range of fields, including trade and investment, education, skills, sports, space, mobility, people-to-people ties, and defense and security.
The Renewable Energy Partnership, which was decided upon at the first India-Australia Annual Summit, was welcomed by both leaders.

"India and Australia have shared ambition to move faster, work together and deploy our complementary capabilities to drive climate action," according to a joint press release.
"The prime ministers welcomed the launch of the India-Australia Renewable Energy Partnership (REP), which would provide the framework for practical cooperation in priority areas such as solar PV, green hydrogen, energy storage, two-way investment in renewable energy projects and allied areas; and upgraded skills training for the renewables workforce of the future," according to the joint statement.

"Our renewable energy partnership is officially launched," Albanese declared, adding that the new collaboration would increase two-way investment in renewable energy sectors, including solar, green hydrogen, and the workforce in renewables.


"We are doing so much work together on driving the renewable energy transition to meet our net zero targets," he stated.

"Bilateral ties reaching new heights! Prime Minister Narendra Modi and Prime Minister Anthony Albanese of Australia held the second India-Australia Annual Summit today, on the sidelines of the G20 Summit in Rio de Janeiro," the Ministry of External Affairs (MEA) said in a post on X.

"Both leaders reiterated their commitment to further advance India-Australia Comprehensive Strategic Partnership in myriad areas like defence and security, trade and investment, education, skills, sports, space, mobility and people-to-people ties," it said.

"The leaders welcomed the launch of the Renewable Energy Partnership (REP), as agreed during the 1st India-Australia Annual Summit," the MEA added.

Additionally, both leaders "welcomed sustained progress under the Comprehensive Strategic Partnership's defense and security pillar." In order to reflect ambition in both countries' elevated defense and security partnership and strategic convergence, they stated their intention to renew and strengthen the Joint Declaration on Defence and Security Cooperation in 2025, the joint statement read.