The Saudi Energy Ministry and NEOM have announced a new partnership, which will see the two collaborate in the field of energy.
The Memorandum of Understanding (MoU) signed by the two parties aims to advance technologies in the sector, according to the Saudi Press Agency (SPA). Further, through the partnership, the parties will also provide technical and organisational solutions in the areas of renewable energy technologies, hydrogen, sustainability, and innovation.
SPA shared that the agreement also commits the two to periodic review of progress.
The MoU also aims to integrate the two entities and other energy system organizations, including 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.