Riyadh, November 14, 2024 – The Saudi Electricity Company (SEC) has taken a significant step in fostering regional energy cooperation and advancing renewable energy integration with the signing of a Memorandum of Understanding (MoU) alongside prominent energy stakeholders. In a ceremony held during the United Nations Climate Change Conference (COP29) in Azerbaijan, SEC partnered with the Kazakhstan Electricity Grid Operating Company, the National Electric Grid of Uzbekistan, and Azerenerji. The MoU, signed under the supervision of Saudi Arabia’s Ministry of Energy, reflects the SEC’s deepening commitment to regional collaboration and sustainable energy development. Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz was in attendance at the signing, underscoring the Kingdom's commitment to clean energy initiatives.
The MoU seeks to explore and support the Green Corridor regional interconnection transmission projects, which would connect vital infrastructure across the Black Sea and Caspian Sea regions, aiming to increase energy efficiency and enable seamless renewable energy integration. This initiative stands as a critical component of the region’s drive toward sustainable development, allowing for greater renewable energy flow between nations and facilitating shared goals of environmental responsibility.
As part of the agreement, SEC and its partners will assess the feasibility of further collaborative investments, exploring potential projects that strengthen regional energy interconnection. This MoU not only provides a platform for improved energy efficiency and green electricity production but also opens the door for additional partnership opportunities in fields mutually beneficial to all parties involved. By emphasizing the joint development of sustainable and green electricity solutions, the agreement aligns with global climate goals and encourages new channels for collaboration in renewable energy.
SEC CEO Khalid AlGhamdi shared his enthusiasm for the partnership, stating, “This MoU exemplifies SEC's ongoing commitment to global partnerships and renewable energy advancement. By working together, we can leverage our collective expertise to enhance the region’s infrastructure, support green electricity production, and drive sustainable growth.” His remarks highlight SEC's active role in driving regional collaboration, harnessing joint expertise, and prioritizing renewable energy initiatives that will shape the region’s future.
This landmark agreement not only aligns with Saudi Arabia’s Vision 2030 but also underscores the Kingdom's broader ambition to achieve net-zero carbon emissions by 2060. Through this and other forward-looking collaborations, the SEC reaffirms its dedication to the global energy transition, paving the way for a more sustainable and interconnected energy landscape that will foster innovation and environmental stewardship.