Bharat and Saudi Arabia signed an agreement on securing a green
hydrogen supply chain and cooperation on power grid interconnection.
The deal was signed in Riyadh by Union Minister for Power and New
& Renewable Energy RK Singh and Saudi Energy Minister Abdulaziz bin Salman
Al-Saud on the sidelines of the MENA Climate Week 2023.
“This memorandum of understanding aims to establish a general
framework for cooperation between the two countries in the field of electrical
interconnection; exchange of electricity during peak times and emergencies;
co-development of projects; co-production of green/clean hydrogen and renewable
energy; and also establishing secure, reliable and resilient supply chains of materials
used in green/clean hydrogen and the renewable energy sector,” said a statement
from the Ministry of Power.
Bharat aims to link 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.
Sharing power resources across regions can help nations reduce the
need for costly renewable energy storage solutions and improve the reliability
of their power grids.
Bharat is pursuing the One Sun One World One Grid (OSOWOG) plan,
which aims to connect countries through a global power grid.
It was discussed between the two energy ministers that B2B Business
Summits and regular B2B communications between the two countries would be held to
set up complete supply and value chains in the above-mentioned areas of energy
sector cooperation, said the statement.
Earlier, an Indian delegation led by the power minister
participated in the high-level segment of the Middle East and North Africa
(MENA) Climate Week 2023, which is being held in Riyadh, Saudi Arabia, from
October 8 to 12, 2023.
Singh told the global community that Bharat today is one of the
world’s most vital voices in the energy landscape and has emerged as a leader
in energy transition.
“India having almost 17 per cent of the world population and being
the world’s fifth largest economy, is taking significant steps to reduce
emission intensity of its GDP by 45 per cent by the year 2030 and to achieve
the goal of Net Zero by the year 2070,” he said.
NE Watch Desk
