Both nations signed the MoU during the MENA Climate Week. The agreement covers electrical interconnections, green/clean hydrogen and supply chains, signifying cooperation in electricity exchange, green hydrogen production, and establishing secure supply chains for renewable energy materials

The Ministry of New and Renewable Energy stated in a press statement that India and Saudi Arabia have solidified their commitment to fostering investments in each other’s new and renewable energy sectors.

Union Power Minister Shri RK Singh held bilateral discussions with Khalid Al-Falih, Minister of Investment, Saudi Arabia during his visit. Subsequently, Singh extended an invitation for investments in India’s new and renewable energy domains, encompassing solar energy, wind power, and green hydrogen, among others.

Both nations signed the Memorandum of Understanding (MoU) during the MENA Climate Week. The agreement covers electrical interconnections, green/clean hydrogen and supply chains, signifying cooperation in electricity exchange, green hydrogen production and establishing secure supply chains for renewable energy materials.

Furthermore, discussions between the Singh and Saudi Minister of Energy, Prince Abdulaziz bin Salman culminated in the decision to conduct B2B business summits and regular interactions to establish comprehensive supply and value chains in the energy sector. Additionally, the Minister met with the United Nations Framework Convention on Climate Change (UNFCCC) Executive Secretary, Simon Stiell to discuss mutual interests, particularly in light of the upcoming COP28 in UAE.