India’s Minister of New & Renewable Energy, Raj Kumar Singh has revealed that India and the United Arab Emirates (UAE) are on their way to enter into a “major agreement”. The cooperation between the two countries concerns the interlinking of renewable energy. He did not give out details about the timeline and added that the cooperation is waiting for the final nod.
The landmark agreement was signed between India’s MNRE Minister R K Singh and UAE’s Minister of Energy and Infrastructure Suhail Al Mazrouei.
It may be noted that the Indian Minister is on a visit to the Arab oil producer in the Gulf region for the purpose of the International Renewable Energy Agency’s (IRENA) assembly, which is to be organised in Abu Dhabi. India is presently the president of IRENA.
The MNRE stated, “There is a major agreement for an interconnection between the UAE electricity grid, and the Indian grid.” The agreement would be part of the One Sun, One World, One Grid (OSOWOG) initiative.
For the uninitiated, OSOWOG is a group of countries that have set sights on the creation of network for renewable energy. renewable energy networks. “ The OSOWOG initiative, first proposed by Indian Prime Minister Narendra Modi, aims to connect different regional grids through a common grid that will be used to transfer renewable energy power and, thus, realize the potential of renewable energy sources, especially solar energy.”
While the cooperation is underway, India’s MNRE Minister has also added that the UAE has expressed an interest in making additional investments in renewable energy projects in India, entailing solar and wind. On January 13, both the sides entered into a Memorandum of Understanding (MoU) aimed at the development of Green Hydrogen.
In 2022, there was a bilateral cooperation on a broad trade agreement setting sights on giving impetus to non-oil trade to $100 billion. The timeline for this goal is the next five years.
Recently, the leadership team for COP28 UAE was announced and Dr. Sultan Ahmed Al Jaber, the Minister of Industry and Advanced Technology (MoIAT), is to assume charge as COP President. R K Singh voiced his support for Jaber, “”He is the point man for renewables, for climate change,” the Indian minister said. “When you look at energy transition you look at the whole energy sector, the whole basket, and in the oil and gas sector too, he’s been working on green initiatives.”
Energy generators in the Gulf region and the United Arab Emirates have share their aim for an energy transition that is realistic. Towards this goal, the producers have made commitments to decarbonisation.
A press release from the Ministry of External Affairs read, “India and the UAE have both taken a lead in the development of renewable at low cost… the two countries are moving towards a strong relationship in the field of power as well as renewables.”