His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy, and The Hon’ble Raj Kumar Singh, Minister of Power and New and Renewable Energy of the Republic of India, signed a Memorandum of Understanding between the two countries in the areas of electrical interconnection, green/clean hydrogen, and supply chains.
The signing took place during the Middle East and North Africa Climate Week 2023, organized by Saudi Arabia in Riyadh in cooperation with the Secretariat of the United Nations Framework Convention on Climate Change.
The Memorandum aims to establish a general framework for cooperation between the parties in electrical interconnection, electricity exchange during peak times and emergencies, co-development of projects, co-production of green/clean hydrogen and renewable energy in both countries, and establishing secure, reliable, and resilient supply chains of materials used in the green/clean hydrogen and renewable energy sectors. This would be in accordance with the countries' respective capabilities, applicable laws, and regulations in both countries.
The Memorandum included cooperation in conducting necessary studies for electrical interconnection; co-development of green/clean hydrogen and renewable energy projects; collaborating with relevant entities and companies specialized in electrical interconnection and green/clean hydrogen; establishing electrical interconnections and a joint mechanism for co-development and co-production of green/clean hydrogen and renewable energy; and establishing secure, reliable and resilient supply chains of materials used in the green/clean hydrogen and renewable energy sectors.
