India and Saudi Arabia have furthered their energy collaboration by signing a memorandum of understanding (MoU) focused on green hydrogen supply chains and power grid interconnection. The agreement, inked in Riyadh during the MENA Climate Week 2023, outlines a comprehensive framework for cooperation between the nations. This includes electrical interconnection, exchange of electricity during peak demand and emergencies, joint project development, green/clean hydrogen and renewable energy production, and the establishment of secure supply chains for materials used in these sectors.

This development follows a prior energy cooperation pact between the two countries, which emphasised power grid interconnectivity. As part of India's efforts to enhance its energy security and economic goals, it plans to connect its national power grid with Saudi Arabia, the UAE, and Singapore through subsea cables. This interconnected grid approach allows countries to share power resources, minimising the need for expensive renewable energy storage solutions and bolstering grid reliability.

Indian Minister for Power and New & Renewable Energy, RK Singh, highlighted India's commitment to environmental responsibility, stating that the country aims to reduce its emission intensity by 45% by 2030 and achieve Net Zero status by 2070. He also encouraged MENA countries to join the Global Biofuels Alliance, a cooperative effort to promote sustainable biofuels, in which India, Brazil, and the US are founding members. Notably, Saudi Arabia has not yet joined this alliance, despite being a significant oil producer in the region.

Source: Live Mint