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Britain and India announce plan to improve connections between world's electricity power grids

The NDTV reported according to Reuters, Britain and India launched a plan on Tuesday to improve connections between the world's electricity power grids to help accelerate the world's transition to greener energy.
Launched at the COP26 climate talks in Scotland, the plan, dubbed the "Green Grids Initiative - One Sun One World One Grid", was backed by more than 80 countries, the British government said in a statement.
The initiative aims to make renewable energy the most affordable and reliable option for all countries by 2030 and was an important contribution to the world's goal of capping global warming at 1.5 degrees Celsius above pre-industrial norms.
Linking the grids would allow parts of the world with excess renewable power to send it to areas with deficits. For instance, countries where the sun has set could draw power from others still able to generate solar electricity.
Prime Minister Narendra Modi, said in a statement: "If the world has to move to a clean and green future, these interconnected transnational grids are going to be critical solutions."

The plan forms a key part of a broader plan to speed up the roll out of affordable 'green' technology, covering more than 70 per cent of the global economy and the 'Breakthrough Agenda'.
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Announcing the first five goals of the plan, dubbed the 'Glasgow Breakthroughs', British Prime Minister Boris Johnson flagged high-level targets to push clean power, zero emissions autos, near-zero emission steel, low-carbon hydrogen and climate-resilient agriculture.
"By making clean technology the most affordable, accessible and attractive choice, the default go-to in what are currently the most polluting sectors, we can cut emissions right around the world," Johnson said.
US independent energy expert Matthew Wald said the plan underscored how renewable energy sources need more transmission lines since they must often be built far from cities, unlike coal or gas-fired plants whose fuel can be shipped in.
But Wald said planners in various countries - including the former Soviet Union - have long dreamed of cheap transmission across time zones with limited progress. Although powerline technology has improved in recent years, Wald and others said the plan would require spending large sums.
Kartikeya Singh, senior associate at Washington-based Center for Strategic and International Studies said: "We're talking about transmission networks that will need to be undersea. They will need to cross mountain ranges. They'll need to cross deserts."
The official announcement of the trans-national grid plan did not include cost figures or funding details.
Read more: UK’s longest lasting snow patch disappears for ‘eighth time in 300 years’
On Monday, PM Modi had said India would reach net-zero carbon emissions by 2070, two decades later than scientists say is needed. Although seen as sceptical of efforts to slow climate change, PM Modi has still attended the conference, while leaders of other major emitters, including China and Russia, have not attended in person.
Julie Gorte, senior vice president for sustainable investing at Impax Asset Management said, the grids plan showed PM Modi willing to move the world's second-most populous nation away from fossil fuels as long as developed countries help.
She said: "Left to their own devices, India is going to build coal plants."
Among other plans to be announced, the Global Energy Alliance for People & Planet was launched with an initial $10 billion from philanthropies and development banks to support the energy transition in the Global South.
The United States and the United Arab Emirates, meanwhile, launched AIM4C, to drive innovation in sustainable agriculture, backed by $4 billion in extra investment.
Source: ndtv
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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