29 May 2007 - 12:39
  • News Code: 105848

Mumbai: India and Cuba have signed an agreement for cooperation and mutual technical assistance in the development of renewable energy sources.

Visiting Indian minister for new and renewable energy Vilas M. Muttemwar and Cuban deputy minister for science, technology and environment Fernando Gonzalez signed the agreement.

 

The agreement, covering renewable energy sources such as wind, solar, biomass and small power plant projects during the 2007-09 period, calls for exchange of information on and the training of Cuban scientists in India.

 

"We are going to help each other in promoting renewable energy in our respective countries," Muttemwar said at a press conference.

 

Among other things, Muttemwar discussed the island nation"s potential for using wind energy, solar energy and biomass from sugar to generate power.

 

Besides, Cuba has also established offshore reserves of petroleum in which Indian firms are interested.

 

The Oil and Natural Gas Corp (ONGC) is currently a partner with Spain"s Repsol YPF and Norway"s Norsk Hydro in six of the 59 exploration blocks in Cuba"s exclusive economic zone in the Gulf of Mexico.

 

Cuba opened its portion of the offshore Gulf of Mexico"s oil block to foreign oil companies in 1999.

 

ONGC, Venezuela"s PDVSA, Spain"s Repsol YPF, Canada-based Sherrit, Norway"s Norsk Hydro and Malaysia"s Petronas have signed exploration contracts with state-owned Cuba Petroleo (Cupet).

 

Cuba produces about 80,000 bpd of high-sulphur heavy crude used mainly to generate electricity, according to figures from state-owned oil company Cupet.

 

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News Code 105848

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