Ministry partners with NEOM to boost energy innovation

Saudi Gazette report

RIYADH — In a strategic move to advance the energy sector, the Saudi Ministry of Energy led by Prince Abdulaziz bin Salman and NEOM, represented by CEO Eng. Nadhmi Al-Nasr, have formalized a memorandum of understanding (MOU) in Riyadh. The agreement aims to bolster collaboration in the energy field, focusing on the development of cutting-edge technologies.

The MOU establishes a framework for cooperation, adhering to existing laws and regulations. Key aspects include regular monitoring and evaluation of progress, identifying areas for enhancement, and offering technical and organizational solutions in critical sectors like renewable energy, hydrogen, sustainability, and innovation.

Additionally, the agreement seeks to harmonize the efforts of both parties with various energy system entities. These include the Water and Electricity Regulatory Authority, the Nuclear and Radiological Regulatory Commission, King Abdullah City for Atomic and Renewable Energy, the Saudi Energy Efficiency Center, the Executive Committee for the Governance of Energy and Water Prices Reform, and the National Committee for the Clean Development Mechanism. This comprehensive approach aims to integrate and coordinate energy initiatives across the board.