A Memorandum of Understanding (MoU) was signed between the Government of Uttarakhand and the Icelandic company Varkis Consulting Engineers at the Secretariat. The signing took place virtually in the presence of Chief Minister Pushkar Singh Dhami and Icelandic Ambassador Dr Benedict Hoskulsson. 

The agreement focuses on the exploration and development of geothermal energy in Uttarakhand, according to a statement from the Chief Minister's office on Friday. CM Dhami, who was virtually present, characterised this Memorandum of Understanding as a significant advance for Uttarakhand's and the nation's energy security and sustainable development. According to the CM, this memorandum of understanding on geothermal energy would not only help realise the aim of clean and renewable energy, but it will also open the way for inclusive development while maintaining environmental security. 

CM Dhami mentioned that Iceland is a leading country in geothermal energy and with their technical support and experience, Uttarakhand will become a key state in this field. The Uttarakhand Chief Minister stated that there have been no objections from three key ministries of the Government of India: the Ministry of Environment, Forest and Climate Change, the Ministry of New and Renewable Energy, and the Ministry of External Affairs. Additionally, the Government of Iceland will cover the costs of studying the feasibility of geothermal energy in the state, according to a statement from the CM's office.

Notably, over 40 geothermal sites in the state of Uttarakhand have been identified for the potential exploitation of geothermal energy, according to an evaluation conducted by the Geological Survey of India and the Wadia Institute of Himalayan Geology, Dehradun. 'Global' competence in geothermal energy makes Varkis Consulting Engineers a 'leading' company in Iceland and their expertise and technical skills will aid in the rapid and effective development of geothermal projects in Uttarakhand.