Augmenting global renewable energy aspirations, India and Saudi Arabia ratified a Memorandum of Understanding (MoU) centered on the evolution of the green hydrogen supply chain and power grid synchronization.
The agreement was formalized by RK Singh, India’s Union Minister for Power and New & Renewable Energy, alongside his Saudi counterpart, Abdulaziz bin Salman Al-Saud.
As detailed in an official release, the MoU is structured to foster mutual endeavors. This includes forming a seamless electrical interconnection, ensuring electricity exchange during critical periods, initiating collaborative green hydrogen projects, and crafting durable supply chains dedicated to green hydrogen.
This latest pact between the two nations follows their recent comprehensive energy cooperation agreement from the prior month. This integration not only promises energy stability but also offers an avenue to mitigate costs tied to renewable energy storage.
A key part of this vision aligns with India’s ambitious One Sun One World One Grid (OSOWOG) initiative, which seeks to unite various nations under a unified global power grid.
Speaking at the MENA Climate Week held in Riyadh from 8-12 October 2023, Singh emphasized India’s pivotal role in shaping the global energy transition narrative. He showcased India’s commitment to cutting down its emission intensity by a commendable 45% by 2030, with an eye on achieving Net Zero emissions by the year 2070.
During his address, Singh also encouraged MENA nations to consider joining the Global Biofuels Alliance. This alliance, introduced at the G20 Summit in New Delhi this past September, is geared towards advancing sustainable biofuel development and global trade. While many nations and international organizations have shown support for this mission, Saudi Arabia’s absence from this alliance remains notably evident.
With this renewed partnership, India and Saudi Arabia are setting a commendable precedent in the realm of sustainable energy, signaling a positive trajectory for the future.
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