In a significant step aimed at enhancing their energy collaboration, India and Saudi Arabia have inked a Memorandum of Understanding (MoU) for the development of a green hydrogen supply chain and electrical connections, as reported by Mint.
This MoU was formally signed during the MENA Climate Week 2023 in Riyadh, Saudi Arabia, marking another significant milestone in the ongoing partnership between the two nations.
According to sources, the agreement seeks to establish a comprehensive framework for cooperation across various facets of the energy sector. Key focus areas include the development of electrical interconnections, the exchange of electricity during peak demand and emergencies, joint project development, collaborative production of green and clean hydrogen, and the establishment of secure, reliable, and resilient supply chains for materials used in the production of green and clean hydrogen as well as renewable energy.
As part of a broader initiative to integrate national power networks with those of other nations, thereby reducing the necessity for expensive renewable energy storage technologies and enhancing grid reliability, India is keen on forging electrical connections with Saudi Arabia. This endeavor aligns with India’s ongoing OSOWOG (One Sun, One World, One Grid) plan, which seeks to connect nations through a global power grid.
Mint reported that R. K. Singh, India’s Union Minister for Power and New & Renewable Energy, used the platform of the MENA Climate Week 2023 to emphasize India’s commitment to the energy transition. He highlighted India’s status as the world’s fifth-largest economy and its substantial efforts to reduce the emission intensity of its GDP by 45 percent by 2030, as well as its ambitious goal of achieving net-zero emissions by 2070. Singh’s statement underscored India’s proactive approach to addressing environmental concerns and transitioning toward a more sustainable energy landscape.
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