Riyadh: Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz Al Saud held a meeting in Riyadh with Dr. Leila Benali, the Minister of Energy Transition and Sustainable Development of the Kingdom of Morocco. The meeting focused on exploring mutual interests, particularly in the areas of renewable energy and energy efficiency.
According to Saudi Press Agency, following the discussions, the ministers signed an executive program aimed at fostering cooperation on renewable energy initiatives. This agreement facilitates the implementation of renewable energy projects by national companies in both nations, building on a memorandum of understanding on energy cooperation that was signed in May 2022 between Saudi Arabia and Morocco.
The newly signed executive program is designed to bolster the bilateral partnership and expand investment opportunities, supporting joint renewable energy projects not only in Saudi Arabia and Morocco but also in additional markets. It encourages collaborative efforts between national companies of both countries in areas such as renewable power generation, energy storage, grid integration, electricity transmission, and grid development.
Additionally, the program addresses the integration of renewable energy into development and infrastructure projects, focusing on the delivery of projects operated with renewable sources. It also emphasizes the establishment of research and training centers to enhance renewable energy technologies, capacity-building, and knowledge transfer between the two nations.