UAE leaders of the I2U2 summit announced an advanced hybrid renewable energy project in the Indian state of Gujarat, The National reported.
The hybrid renewable energy proposal is a project to produce 300 megawatts of wind and solar energy, supplemented by a battery-powered energy storage system.
Washington has already funded a $330 million feasibility study for the project, while Indian, Israeli, and US companies also want to invest in India’s projects to produce 500 GW of non-fossil fuel by 2030.
The first virtual I2U2 summit brought together Indian Prime Minister Narendra Modi, Israeli Prime Minister Yair Lapid, UAE President Mohammed bin Zayed Al Nahyan, and US President Joe Biden.
The first I2U2 leaders’ summit aims to encourage joint investment in six areas such as water, energy, transportation, space, health, and food security.
Earlier, the UAE said it would invest $2 billion in agricultural food parks across India to improve food security in Southeast Asia and the Middle East.
The leaders’ meeting took place on the first full day of US President Joe Biden’s visit to Israel. The leaders of other countries remotely joined him.
In a joint statement, the summit leaders said that food parks are part of an effort to create innovative, inclusive, science-based solutions to improve food security and sustainable food systems.
Israel and the US stand ready to provide cutting-edge technology as well as the experience of integrated food parks across India that will provide land and help farmers integrate into the project.
These parks aim to “reduce food waste and spoilage, conserve fresh water and use renewable energy sources” to maximize crop yields and help address food insecurity in South Asia and the Middle East.
Although the first meeting of the leaders of the four countries focused on food security and clean energy, the countries reaffirmed their commitment to the Abraham Accords, which helped normalize relations between Israel and several Arab states.