Saudi Arabia and India will each invest in the other’s renewable energy industries
Saudi Arabia and India have decided to encourage investments in one another’s innovative and renewable energy sectors.
Yesterday, on the second day of his trip to Saudi Arabia, Union Power Minister R K Singh met with Saudi Minister of Investment H.E. Khalid Al-Falih for private talks. Later, Mr. Singh spoke before a group of Saudi business leaders and investors and asked them to make investments in India’s new and renewable energy industries, such as green hydrogen, wind power, and solar energy.
At the meeting, representatives from all of the main commercial organizations in Saudi Arabia took part, including those from ACWA Power, Alfanar, AWJ Energy, Almajdouie, Abdulkarim, Aljomaih Energy and Water Company, Kanoo Industrial & Energy, L&T, Nesma Renewable Energy, Petromin, and NextGen Infra.
The group and Mr. Singh also went to the Sudair Solar Power Plant in Riyadh. The work is being done by an Indian business, and the facility is the biggest solar power plant in the Kingdom. A banquet in honor of the Indian minister was also organized by the Saudi-India Business Council.
Mr. Singh led the Indian delegation at the high-level session of the Middle East and North Africa (MENA) Climate Week 2023, which was held in Riyadh, on the first day of his visit, which was on October 8. A high-level ministerial session on “Advancing the Energy Transition in the MENA Region: Advancing Inclusivity and Circularity for just and Equitable Energy Transitions” was also attended by him as part of MENA Climate Week.
On the margins of the MENA Climate Week in Riyadh, the Indian minister and the Saudi Arabian minister of energy Abdulaziz bin Salman Al-Saud inked an MoU in the areas of electrical interconnections, green/clean hydrogen, and supply chains.
