India, Italy to set up tech centre

India and Italy will sign an agreement to set up a research centre for developing new technologies to tap non-conventional energy sources.

India and Italy will sign an agreement to set up a research centre for developing new technologies to tap non-conventional energy sources.

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"We will sign a MoU with Ministry of Environment and Forest for establishing a technology centre to design new technologies and identify projects to be developed by the two governments with the participation from private companies," Corrado Clini, Director General of Department for Environmental Research and Development, Italy, has said.

"We will be financing concrete and good projects," he said while addressing a seminar on Clean Development Mechanism Co-operation between Italy and India at Assocham.

However, he declined to reveal the amount that will be financed by the Italy government.

The agreement was likely to be signed by the end of this month, Clini said, adding the technology centre would come up in New Delhi during mid-2006.

Under CDM, an industrialised country with a green house gas reduction target could invest in a project in a developing country without a target, and claim credit for the emission that the projects achieve.

For industrialised countries, this greatly reduces the cost of meeting the reduction commitments that they agreed to under the Kyoto Protocol.