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The Kingdom of Saudi Arabia signed an Memorandum of Understanding (MoU) with India on the sidelines of Middle East and North Africa Climate Week 2023 hosted in Riyadh, Saudi Arabia. This MoU outlines ways in which the two countries can cooperate on electric interconnectivity, and green/clean hydrogen supply chains. This deal was signed by His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy, and The Hon’ble Raj Kumar Singh, Minister of Power and New and Renewable Energy of the Republic of India, on October 08 2023.
The signing took place during the Middle East and North Africa Climate Week 2023 in Riyadh. The week was organized by Saudi Arabia in cooperation with the Secretariat of the United Nations Framework Convention on Climate Change.
The memorandum aims to create a general framework through which the two countries can cooperate in electrical interconnection, electricity exchange during peak times and emergencies, co-development of projects, co-production of green/clean hydrogen and renewable energy in both countries, and establishing secure, reliable, and resilient supply chains of materials used in the green/clean hydrogen and renewable energy sectors.
It also includes in collaboration in various other areas such as conducting necessary studies for electrical interconnection, co-development of green/clean hydrogen and renewable energy projects, collaborating with relevant entities and companies specialized in electrical interconnection and green/clean hydrogen, establishing electrical interconnections and a joint mechanism for co-development and co-production of green/clean hydrogen and renewable energy, and establishing secure, reliable and resilient supply chains of materials used in the green/clean hydrogen.
This step signifies the Kingdom's commitment to renewable energy and international cooperation.
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