RIYADH: To improve cooperation on the development and transmission of renewable energy, Saudi Arabia has inked a joint executive program with Azerbaijan, Uzbekistan, and Kazakhstan. According to a news release, Saudi Energy Minister Prince Abdulaziz bin Salman and his counterparts from the three countries signed the agreement on the sidelines of the 29th UN Climate Summit in Baku.
In order to evaluate regional power grid interconnection projects focused on renewable power, the initiative seeks to establish a strategic collaboration. By 2030, Saudi Arabia, a pioneer in sustainable energy in the Middle East, wants to get half of its electricity from renewable sources. “This signing is in implementation of bilateral memorandums of understanding in the energy sector that were previously signed between Saudi Arabia and Kazakhstan on June 12, 2023, as well as two energy cooperation agreements with the Republic of Uzbekistan on August 17, 2022, and with Azerbaijan on May 24, 2023,” the Ministry of Energy stated.
The ministry emphasized that this collaboration will increase the effectiveness of energy infrastructure and encourage the incorporation of renewable energy sources into the partner countries’ national networks. In order to assist renewable electricity generation and storage, the program will also look into joint investment options and establish the foundation for regional grid connectivity initiatives.
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