India signs MoU with Saudi Arabia in the grid-connection and green hydrogen spaces

India has signed a MoU with Saudi Arabia in the electrical interconnections, green hydrogen, and supply chains domain. The MoU seeks to create a broad framework for partnership between the two nations in the electrical interconnection sector. This includes sharing electricity during periods of high demand and emergencies, jointly developing projects, producing green hydrogen and renewable energy, and ensuring secure, reliable, and resilient supply chains for materials used in the production of green hydrogen and renewable energy. Furthermore, the two energy ministers have agreed to organise B2B business summits and regular interactions between businesses from both countries. These initiatives aim to establish comprehensive supply and value chains in the aforementioned areas of clean sector cooperation.

Speaking at the inaugural session of the Middle-East and North Africa (MENA) Climate Week in Riyadh, which focused on the “Global Stocktake of the Paris Agreement (GST) Regional Dialogue: Highlighting enablers and technologies for ambition and just and inclusive transitions”, the power minister underscored the vital significance of this event. The minister stressed that MENA Climate Week serves as a crucial platform for discussing and disseminating ideas that can help shape the global landscape of energy production, consumption, and sustainability. Additionally, the minister highlighted that the collective assembly at MENA CW holds substantial importance for the MENA region and possesses significant potential to influence both the ongoing and future discourse surrounding the transition to cleaner energy sources.

The Minister conveyed to the international community that India currently holds a pivotal position in the global energy arena and has risen as a frontrunner in the field of energy transition. The minister further highlighted that green hydrogen stands out as a highly promising option for expediting India’s shift towards cleaner energy sources. The government of India has introduced the National Green Hydrogen Mission, allocating an initial budget of $2.3 billion to facilitate this mission’s objectives. The Minister urged MENA countries to become members of the Global Biofuel Alliance, emphasising the importance of international collaboration in promoting sustainable biofuels and fully realising the alliance’s potential. The objective of the alliance is to foster cooperation to accelerate the development and adoption of sustainable biofuels, promoting biofuels trade, and working closely with global biofuels organisations. Furthermore, the Minister stressed India’s belief that all nations must acknowledge the unique challenges and opportunities that the energy transition presents, particularly for developing countries and those in the global south. The minister asserted that it is essential for countries to collaborate and support each other during this transition. Further highlighting the significance of individual actions and sustainable behavioral choices in achieving a sustainable energy transition, the minister encouraged the MENA region to participate in India’s initiative called Lifestyle for Environment.

The high-level regional dialogue on the GST during the MENA Climate Week will bring together policymakers, important stakeholders, and partners engaged in the intergovernmental process. The primary objective is to deliberate on the region’s significant contributions and insights, aiming to influence the final GST outcome. Additionally, this dialogue will provide a platform for examining the obstacles, hurdles, potential solutions, and prospects for bolstering climate-related initiatives and assistance in the MENA region. It also serves as a platform for fostering international collaboration in this regard.