India and Saudi Arabia inked a Memorandum of Understanding (MoU) in Riyadh on October 8 to collaborate in the fields of ectrical interconnections, green & clean hydrogen and supply chains.
The MoU was signed in Riyadh on October 8 by union minister for power and new & renewable energy, R.K. Singh and the minister of energy, Saudi Arabia, Abdulaziz bin Salman Al-Saud on the sidelines of the MENA Climate Week .
This MoU aims to establish 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 also establishing secure, reliable and resilient supply chains of materials used in green & clean hydrogen and the renewable energy sector.
Earlier, an Indian delegation led participated in the High-Level Segment of the Middle East and North Africa (MENA) Climate Week 2023, which is being held in Riyadh, Saudi Arabia during October 8 – 12, 2023. MENA Climate Week 2023 will discuss climate solutions ahead of COP28 and is being hosted by the government of the Kingdom of Saudi Arabia.
This important event brings together a diverse group of stakeholders to discuss many topics, including the Global Stocktake, and the economic and energy security aspects of climate action in the context of the Paris Agreement. It provides a valuable opportunity to share insights and best practices, and to develop ambitious climate strategies for the rest of this critical decade.
Minister said that MENA 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 that the gathering at MENA CW holds great significance for the MENA region and collectively possesses immense potential in influencing the current and future narrative of energy transition.