Minister Singh attends MENA Climate Week in Riyadh
Invest India has briefed Saudi Arabian business houses on investment opportunities in areas like RE Generation projects, Energy Storage, Electricity Transmission and Green Hydrogen.
The briefing was held during Power & NRE Minister R K Singh visit to MENA Climate Week 2023 held in Riyadh. All major business houses in Saudi Arabia including ACWA Power, Alfanar, AWJ Energy, Almajdouie, Abdulkarim, Aljomaih Energy and Water Company, Kanoo Industrial & Energy, L&T, Nesma Renewable Energy, Petromin, NextGen Infra participated in the briefing.
Singh led the Indian delegation in the High-Level Segment of the Middle East and North Africa (MENA) at the climate week and participated in a Panel on, “Advancing the Energy Transition in the MENA region: Advancing inclusivity and circularity for just and Equitable Energy Transitions”.
Singh and the delegation also visited the Sudair Solar Power Plant in Riyadh.
The 1,500 MW solar PV project is being developed by Acwa Power and Saudi Aramco Power with ownership stake of as 35% and 30%, respectively.
The ground-mounted solar project is expected to offset 2,900,000t of carbon dioxide emissions (CO2) a year.
An MoU between India and Saudi Arabia in the fields of Electrical Interconnections, Green / Clean Hydrogen and Supply Chains was signed between Minister Singh and the Saudi Energy Minister Abdulaziz bin Salman Al-Saud on the sidelines of the MENA Climate Week in Riyadh on 8 Oct 2023.
“This MoU 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 the Power Ministry in a release on 10 Oct 2023.
The Indo-Saudi partnership has strengthened considerably in recent years due to sustained engagements at various levels, the ministry pointed out.
“The Minister Singh’s visit further consolidated the strategic partnership between the two countries and opened doors for joint collaborations and investments in new and renewable energy sectors,” it said. fiinews.com
