UAE To Invest in 300 MW Hybrid Project as Part of $2 Billion Investment in India

Under the framework of the four-nation grouping ‘I2U2′ (India, Israel, USA and UAE), the United Arab Emirates will make an investment worth $2 billion to establish a series of integrated food parks across India. This decision was announced in the first virtual summit held under the leaders of the grouping — Indian Prime Minister Narendra Modi, US President Joe Biden, Israeli Prime Minister Yair Lapid and UAE President Mohammed bin Zayed Al Nahyan.

Innovative ways to ensure longer-term, more diversified food production and food delivery systems were discussed as per the joint statement. The meeting focused on food security crisis and clean energy. The statement also revealed that India will also make available “appropriate land” for the food parks.

With a focus on clean energy, the group has announced a 300 megawatt (MW) hybrid Renewable Energy project in Gujarat, supplemented by a battery energy storage system. The energy project will also include greater opportunities for public-private sector cooperation. The joint statement notes that the “project has the potential to make India a global hub for alternate supply chains in the renewable energy sector.”

The I2U2 said that “India will provide appropriate land for the project and will facilitate farmers’ integration into the food parks. The US and Israeli private sectors will be invited to lend their expertise and offer innovative solutions that contribute to the overall sustainability of the project”.

The discussions between leaders was also about tapping the potential of well-established markets to build more innovative, inclusive, and science-based solutions to increase food security. It was during the meeting of the foreign ministers of the said countries in October 2021 that the four-nation grouping was born. In the last few years, India’s bilateral strategic ties with each of the three countries have been on an upswing.

The investments will prove to be a solution to the food insecurity challenge in South Asia and the Middle East by maximizing the crop yield.