India and Saudi Arabia have signed a Memorandum of Understanding in the fields of electrical interconnections, green hydrogen and clean hydrogen, and supply chains. The MoU was signed on the sidelines of the MENA Climate Week in Riyadh.
This MoU aims to establish a general framework for cooperation between the two countries in the field of electrical interconnection and exchange of electricity during peak times and emergencies. The two sides will also cooperate to co-develop projects, co-produce green/clean hydrogen and renewable energy, and establish secure, reliable, and resilient supply chains of materials used in green/clean hydrogen and the renewable energy sector.
The two sides also agreed on conducting business-to-business (B2B) summits and regular B2B interactions to establish complete supply and value chains in the above-mentioned areas of energy sector cooperation.
The Middle East and North Africa (MENA) Climate Week 2023, which is being held in Riyadh, Saudi Arabia, from Oct. 8 – 12, 2023, will discuss climate solutions ahead of COP28 and is being hosted by the government of the Kingdom of Saudi Arabia. It brings together a diverse group of stakeholders to discuss many topics, including the economic and energy security aspects of climate action in the context of the Paris Agreement.
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