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India and Saudi Arabia on Sunday signed a memorandum of understanding (MoU) to establish a general framework for cooperation in electrical interconnection and exchange of electricity during peak times and emergencies.
The development comes after both the countries, in September 2023, signed a MoU on grid interconnection. It assumes importance as part of One Sun One World One Grid (OSOWOG), India, Saudi Arabia, the UAE and Singapore are in advanced stages of creating a mega grid infrastructure, which will enable trade in renewable energy (RE) from Southeast Asia to Europe via the Middle East.
Besides, the MoU between India and Saudi Arabia, signed on the sidelines of the MENA Climate Week, also includes mutual cooperation in co-production of green/clean hydrogen and RE, as well as establishing a secure, reliable and resilient supply chain for materials used in green/clean hydrogen and RE sector.
The MoU was signed between Power and New & Renewable Energy Minister RK Singh and Saudi Arabia’s Minister of Energy Abdulaziz bin Salman Al-Saud in Riyadh, Power Ministry said.
Clean energy trade
It was also decided between the two energy ministers that B2B business summits and regular B2B interactions between the two countries will be conducted to establish complete supply and value chains in the mentioned areas of energy sector cooperation, the Ministry added.
Singh called upon MENA countries to join the Global Biofuel Alliance, in order to advance international cooperation in sustainable biofuels to realize the full potential of the Alliance.
He said the Alliance aims to facilitate cooperation in intensifying the development and deployment of sustainable biofuels, to facilitate trade in biofuels and much more, in collaboration with international biofuels organisations.
The Minister underlined that India firmly believes that all nations must recognize that the energy transition will have different challenges and opportunities for developing countries and the global south in particular.
Grid interconnection
The OSOWOG initiative is to introduce a transnational electricity grid that supplies power worldwide. It was first proposed by Prime Minister Narendra Modi, during the assembly of the International Solar Alliance (ISA) in 2018.
India has had preliminary discussions with Singapore to have an undersea cable to Singapore and through Singapore to the ASEAN grid. Besides, it has formed a group of officials, who are conducting various feasibility studies on the issue.
Last month, Singh said that the only requirement here would be to see if there is enough traffic because if there is sufficient traffic between the regions then transmission cost per unit will become affordable.
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