Saudi Arabia and India sign agreement to enhance cooperation in clean energy

 

Saudi Arabia and India sign agreement to enhance cooperation in clean energy  

Saudi Arabia and India's energy ministers have inked a Memorandum of Understanding (MoU) during the MENA Climate Week in Riyadh, focusing on electrical interconnections, hydrogen production, and clean energy supply chains.

The agreement for energy sharing and supply chain cooperation was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and India's Minister of Power and Renewable Energy, Raj Kumar Singh.

 

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This development builds on a series of joint agreements established between Saudi Crown Prince Mohammed bin Salman and Indian Prime Minister Narendra Modi last month.

Both nations will collaborate on projects related to hydrogen and clean energy, including their production. Establishing an electrical grid interconnection will enable reciprocal energy sharing during peak demand periods and emergency situations.

 

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Furthermore, interlinking energy networks will reduce the need for each country to invest in energy storage and sourcing infrastructure, leading to cost savings that benefit consumers.

To foster complete supply and value chains in their respective energy sectors, regular business summits and business-to-business interactions between the two countries will be conducted.

Prior to signing the MoU, the two ministers participated in a panel discussion on advancing energy transition in the Middle East and North Africa region.

Source: https://english.alarabiya.net/