India and Saudi Arabia, on Sunday, signed a memorandum of understanding (MoU) in areas {of electrical} interconnections, inexperienced/clear hydrogen, and provide chains.
The MoU goals to arrange a common framework for cooperation between the 2 nations within the area {of electrical} interconnection, alternate of electrical energy throughout peak instances and emergencies, co-development of tasks, co-production of inexperienced/clear hydrogen and renewable power, and institution of safe, dependable and resilient provide chains of supplies utilized in inexperienced/clear hydrogen and the renewable power sector.
Union Minister for Energy and New & Renewable Power, R.Okay. Singh who’s in Riyadh, and Saudi Arabia Minister of Power Abdulaziz bin Salman Al-Saud additionally agreed to carry B2B enterprise summits and common B2B interactions between the 2 nations to determine full provide and worth chains in areas of power sector cooperation.
Addressing a session on ‘World Stocktake of the Paris Settlement (GST) Regional Dialogue: Highlighting enablers and applied sciences for ambition and simply and inclusive transitions’ on the primary day of the Center East and North Africa (MENA) Local weather Week 2023 in Riyadh, Singh mentioned the Local weather Week is extraordinarily essential in exploring and sharing alternatives to form the way forward for power manufacturing, consumption and sustainability on a worldwide scale.
He mentioned India at present is among the world’s most important voices within the power panorama, and has emerged as a pacesetter in power transition.
The minister noticed that India’s power sector has undergone a exceptional transformation, geared toward offering dependable, inexpensive and sustainable power to its folks.
He referred to as upon MENA nations to hitch the World Biofuel Alliance, with a view to advance worldwide cooperation in sustainable biofuels to appreciate the complete potential of the Alliance.