Saudi Arabia and India have signed an agreement to explore the co-production of green hydrogen and renewable energy.
The agreement was signed by Saudi Minister of Energy Prince Abdulaziz bin Salman and India’s Minister of Power and New and Renewable Energy Raj Kumar Singh during the Middle East and North Africa Climate Week 2023 in Riyadh, Saudi Press Agency reported.
The agreement aims to establish a general framework for cooperation between the two countries in electrical interconnection, electricity exchange during peak times and emergencies, co-development of projects, co-production of green/clean hydrogen and renewable energy.
The pact will also establish secure and resilient supply chains of materials used in the green/clean hydrogen and renewable energy sectors.
The agreement comes a month after announcing the India-Middle East-Europe economic corridor, which encompasses a rail and shipping corridor connecting India, the UAE, Saudi Arabia, the European Union and the US.
India has been exploring linking its power grid with those of Saudi Arabia and the UAE through subsea cables from its west coast and with the power grid of Singapore from the east coast.
New Delhi is pursuing the ‘One Sun One World One Grid’ plan to connect countries through a global power grid.
In September, an unnamed Indian government official said the proposal for power grid interconnection via undersea cables with the UAE is pending approval.
Read more: Indian cabinet to discuss power grid connection with Saudi – report
India in talks to establish grid interconnection with UAE – minister
Saudi Crown Prince announces economic corridor linking India, Middle East, and Europe at G20
(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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