Japan intends to assist India in driving the shift to renewable energy, building on a program begun last year for Southeast Asian countries, Industry Minister Koichi Hagiuda said on Wednesday.
Japan’s ‘Asia Energy Transition Initiative’ initially aimed at assisting countries in the Association of Southeast Asian Nations (ASEAN) in their efforts to achieve net-zero carbon emissions, including $10 billion in funding for renewable energy, energy efficiency, and liquefied natural gas (LNG) projects.
“Specific support includes support for ASEAN countries in the Asian roadmap towards carbon neutrality, which will be expanded to include India,” Hagiuda said at the Sydney Energy Forum, which was co-hosted by the Australian government and the International Energy Agency.
In view of the current energy crisis caused by the loss of Russian energy supply, Hagiuda believes the area has to concentrate on diversifying its energy sources.
“Against that backdrop, considering the current energy crisis, stable energy supply and market stability are critical as the basis for promoting a transition towards carbon neutrality,” Hagiuda said.
“For that we must engage in improving our energy independence through things such as a further push for diversification of energy sources of supply.”
Before traveling to Sydney for discussions with Quad partners Australia, India, and the United States, Hagiuda said on Tuesday that he will encourage the United States and Australia to increase LNG production and ensure reliable supply to Japan.
In his remarks, he made no mention of the result of the earlier-held negotiations on Wednesday.