- This energy alliance focuses on increasing cooperation in areas such as renewable energy, grid integration, and energy storage.
- Saudi and India are making strides in shifting the narrative on energy cooperation.
Saudi Arabia and India are moving towards becoming global leaders in the energy sector. The countries plan to achieve this by strengthening their ties in key industries such as electricity and clean energy. This comes when renewable energy and climate change are at the forefront of global discourse.
The Indian Minister of Power, R. K. Singh, emphasised the significance of this collaboration in an interview with Al Arabiya. This energy alliance focuses on increasing cooperation in areas such as renewable energy, grid integration, and energy storage. Saudi Arabia, a significant oil producer, is keen to diversify its energy sector, and India, with its booming energy demands, presents a significant market for Saudi investments.
Both countries have recently inked a Memorandum of Understanding (MoU) during the Middle East and North Africa Climate Week 2023 held in Riyadh. The agreement underscores their shared commitment to collaborate on electrical interconnections, green/clean hydrogen, and supply chains. It paves the way for conducting studies, facilitating electricity exchange, and addressing emergencies in the field of electrical interconnection. The agreement also opens up opportunities for joint projects related to green/clean hydrogen and renewable energy.