India, Saudi Arabia sign MoU on electrical interconnections, clean hydrogen, supply chains

India and Saudi Arabia, on Sunday, signed a memorandum of understanding (MoU) in areas of electrical interconnections, green/clean hydrogen, and supply chains.

The MoU aims to set up a general framework for cooperation between the two countries in the field of electrical interconnection, exchange of electricity during peak times and emergencies, co-development of projects, co-production of green/clean hydrogen and renewable energy, and establishment of secure, reliable and resilient supply chains of materials used in green/clean hydrogen and the renewable energy sector.

Union Minister for Power and New & Renewable Energy, R.K. Singh who is in Riyadh, and Saudi Arabia Minister of Energy Abdulaziz bin Salman Al-Saud also agreed to hold B2B business summits and regular B2B interactions between the two countries to establish complete supply and value chains in areas of energy sector cooperation.

Addressing a session on 'Global Stocktake of the Paris Agreement (GST) Regional Dialogue: Highlighting enablers and technologies for ambition and just and inclusive transitions' on the first day of the Middle East and North Africa (MENA) Climate Week 2023 in Riyadh, Singh said the Climate Week is extremely important in exploring and sharing opportunities to shape the future of energy production, consumption and sustainability on a global scale.

He said India today is one of the world’s most vital voices in the energy landscape, and has emerged as a leader in energy transition.

The minister observed that India’s energy sector has undergone a remarkable transformation, aimed at providing reliable, affordable and sustainable energy to its people.

He called upon MENA countries to join the Global Biofuel Alliance, in order to advance international cooperation in sustainable biofuels to realize the full potential of the Alliance.