India and Saudi Arabia have inked an agreement to secure a green hydrogen supply chain and collaborate on power grid connections. The Memorandum of Understanding was signed in Riyadh on the sidelines of the MENA Climate Week 2023 by Union Minister for Power and New and Renewable Energy RK Singh and Saudi Minister of Energy Abdulaziz bin Salman Al-Saud.
“This memorandum of understanding aims to establish a general framework for cooperation between the two countries in the field of electrical interconnection; exchange of electricity during peak times and emergencies; co-development of projects; co-production of green/clean hydrogen and renewable energy; and also establishing secure, reliable and resilient supply chains of materials used in green/clean hydrogen and the renewable energy sector," said a statement from the ministry of power.
The MoU comes nearly a month after both countries signed an agreement for cooperation in energy, including in renewable energy, energy efficiency, grid interconnection, strategic petroleum reserves and energy security. Mint first reported on 25 April that India plans to interconnect the national power grids of the two countries through a subsea cable, as per livemint.
India has been looking towards connecting its power system to those of Saudi Arabia and the UAE via subsea cables from its west coast and to Singapore's power grid from its east coast. Countries may lessen the need for costly renewable energy storage technologies and enhance the dependability of their power networks by sharing electricity resources across regions.
India's quest of grid interconnection may also be essential to the country's long-term economic and energy security objectives. India is pursuing the One Sun, One World, One Grid (OSOWOG) initiative, which intends to connect countries via a global electricity grid.