India-EU Summit Tackles Climate Change, Solar and Nuclear Energy
6 November 2009: The Tenth India- EU Summit addressed international negotiations on climate change, energy cooperation and environment-related loans. The event took place in New Delhi, India, on 6 November 2009, between Sweden's Prime Minister Fredrik Reinfeldt, representing the EU Swedish Presidency, European Commission President José Manuel Barroso, and India's Prime Minister Manmohan Singh.
According to the EU-India Summit statement, the two-degree Celsius target was supported, with the understanding that this objective should take into account the “overriding priority of poverty eradication and social and economic development of the developing countries.” The EU and India undertook to give equal priority to mitigation and adaptation, and recognized the critical role of enabling financial and technological support to developing countries to this end. India and the EU also underlined the importance of achieving security, sustainability and reliability of energy supplies.
At the Summit, two loans from the European Investment Bank (EIB) were also presented. The first is a 150-million euro loan to support projects mitigating the effects of climate change. The second loan, amounting to 100 million Euros, is for the partial financing of a new car factory in the state of Maharashtra that will use European environmental technology to produce cars that emit fewer greenhouse gases. Finally, the EU and India agreed to jointly invest 10 million Euros in promoting research into solar energy technology, and concluded a cooperation agreement on research in the field of nuclear energy.