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India and Saudi Arabia have signed a Memorandum of Understanding (MoU) in electrical interconnections, green/clean hydrogen and supply chains. While regular B2B meetings will be held to set up a complete supply value chain in areas of cooperation, India’s Power Ministry has said that the MoU aims to establish a general framework for cooperation between India and Saudi Arabia in electrical interconnections.
Along with the co-production of green/clean hydrogen and renewable energy, the agreement will enable the exchange of electricity during peak times and emergencies and intends to establish resilient supply chains of materials used in the renewable energy sector.
The MoU was signed between the visiting Union Minister for Power and New & Renewable Energy RK
Singh and Minister of Energy, Government of Saudi Arabia, Abdulaziz bin Salman Al-Saud on the sidelines of the Middle East and North Africa (MENA) Climate Week in Riyadh. The MENA Climate Week 2023 is being held in Riyadh, Saudi Arabia, from October 8-12.
Speaking at a session during the MENA Climate Week, Singh urged participating countries to join the biofuel alliance and Lifestyle for Environment (LiFE) to support energy transition.
The following is the text of the MoU:
The Government of the Kingdom of Saudi Arabia, represented by the Ministry of Energy, and the Government of the Republic of India represented by the Ministry of Power (hereinafter referred to as the “Parties”) based on friendship bonds between the two countries and their desire to strengthen cooperation between them in the field of electrical interconnection, green/clean hydrogen and supply chains.