According to reports, India and Saudi Arabia signed a Memorandum of Understanding (MoU) in Riyadh to work together on supply chains, green & clean hydrogen, and electrical connectivity.
The MoU was reportedly signed in Riyadh on October 8 by the Saudi Arabian energy minister, Abdulaziz bin Salman Al-Saud, and the Union Minister for Power and New and Renewable Energy, R.K. Singh, on the margins of the MENA Climate Week.
Apparently, this MOU aims to establish a broad framework for collaboration between the two nations for the exchange of electricity, and electrical interconnection through peak hours and emergencies, project co-development, collaborative production of renewable energy, green hydrogen, and establishment of secure, dependable, and resilient supply networks of materials used in the green/clean hydrogen and the renewable energy sectors.
Previously, an Indian team led by Prime Minister Narendra Modi attended the High-Level Segment of the MENA (Middle East and North Africa) Climate Week 2023, which is currently being organized in Riyadh, Saudi Arabia from October 8 to 12, 2023. The government of the Kingdom of Saudi Arabia is hosting MENA Climate Week 2023, which will debate climate solutions before to COP28.
The report cites that, this significant event brings together a varied collection of stakeholders to debate a wide range of issues, including the Global Stocktake and the economic and energy security implications of climate action in the context of the Paris Agreement. It is a great opportunity for exchanging knowledge and best practices, as well as to build ambitious climate policies for the rest of this important decade.
As per the Minister, MENA Climate Week is critical for investigating and sharing opportunities to impact the future of energy production, use, and sustainability on a global scale. He stated that the meeting at MENA CW is of paramount significance for the MENA region and has enormous potential to influence the present and future narrative of energy transformation.