Big funds from the EU to Algeria: The European Union says it has designed a EUR 15 mn cooperation program for the renewable energy sector in Algeria during the annual meeting of the high-level political dialogue on energy between the two parties, according to a joint statement on Thursday. The program focuses on the development of renewable energy projects, the integration of renewables through new technologies, electrical interconnection, and setting up a green hydrogen economy.

And more: During the dialogue, officials discussed cooperation in renewable hydrogen and the reduction of methane emissions in the oil and gas industry, according to the statement. The two parties also agreed to work on reducing methane emissions and hydrogen by opening the door for pilot industrial projects bringing together EU and Algerian public and private companies. They also expressed readiness to “explore the possibility to establish an agreement in the hydrogen cooperation in order to identify concrete actions and projects.” They also said they are eyeing extended cooperation in the exploration, production, and utilization of rare materials, including inputs used in the installation component industry for the production or storage of renewable energy. They also agreed to advance talks on the interconnection of Europe and Algeria’s electricity networks and cross-border exchanges.

Big news from KSA, India: Saudi Arabia has inked with India an MoU in green hydrogen, supply chains, and electrical interconnection between the two countries, according to a Saudi Energy Ministry statement. The MoU was signed by Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman and Indian counterpart Raj Kumar Singh during the MENA Climate Week in Riyadh. The MoU aims to set up a framework for the co-production of green hydrogen and renewable energy in both nations. It aims to establish a solid and secure supply chain for materials used in both sectors, according to SPA.

And more: The MoU also paves the way for carrying out necessary studies for electrical interconnection and the co-development of green hydrogen and renewable hydrogen projects, according to SPA.

REMEMBER- Saudi and India have been bffs: Several KSA-based renewables companies, including Desert Technologies and Tadawul-listed Al Jomaih Energy and Water company, signed last month MoUs with Indian companies on the sidelines of the India-Saudi Investment Forum to invest in the region’s renewables sector.