India and Saudi Arabia have signed a Memorandum of Understanding in Riyadh today afternoon, in the fields of Electrical Interconnections, Green / Clean Hydrogen and Supply Chains. The MoU was signed between the visiting Union Minister for Power and New & Renewable Energy, Government of India, Shri R.K. Singh and the Minister of Energy, Government of Saudi Arabia, Mr. Abdulaziz bin Salman Al-Saud on the sidelines of the MENA Climate Week in Riyadh on yesterday.
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. It was also decided between the two energy ministers that B2B Business Summits and regular B2B interactions between the two countries will be conducted to establish complete supply and value chains in the above-mentioned areas of energy sector cooperation.
