Indian Economy News

India, Saudi Arabia sign MoU on grid connection and green hydrogen

  • IBEF
  • October 9, 2023

India and Saudi Arabia have inked a Memorandum of Understanding (MoU) for grid interconnections, green/clean hydrogen, and the supply chain.

The MoU was signed on the sidelines of the MENA Climate Week in Riyadh by the Union Minister for Power and New and Renewable Energy, Mr. R K Singh, and the Minister of Energy, Government of Saudi Arabia, Mr. Abdulaziz bin Salman Al-Saud.

A statement from the Ministry of Power read, “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 the green/clean hydrogen and renewable energy sector".

Mr. Singh, who is attending the Middle East and North Africa (MENA) Climate Week 2023, urged MENA countries to join the Global Biofuel Alliance in order to strengthen international cooperation in sustainable biofuels and fully realise the Alliance's potential.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.