Saudi Electricity Company, JBIC Sign MoU to Promote Energy Conversion

  • Date: 17-Dec-2020
  • Source: Saudi Press Agency
  • Sector:Oil & Gas
  • Country:Saudi Arabia
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Saudi Electricity Company, JBIC Sign MoU to Promote Energy Conversion

Saudi Electricity Company, JBIC Sign MoU to Promote Energy Conversion



الخميس 1442/5/2 هـ الموافق 2020/12/17 م واس



























Riyadh, December 17, 2020, SPA -- The Saudi Electricity Company has signed a memorandum of understanding (MoU) with Japan Bank for International Cooperation (JBIC) to finance the company's current and future projects and to promote energy conversion, environmental and social responsibility in the Kingdom of Saudi Arabia's energy sector.

The MoU comes in the context of the Saudi-Japan Vision 2030, which is a comprehensive cooperation that heralds a new era of strategic cooperation between the two countries.

According to the MoU, the two sides aim to hold regular discussions, exchange and share information and develop solutions that tackle the challenges that Saudi Electricity faces in the midst of efforts being made to promote energy conversion and environmental and social sustainability in the Saudi energy sector and other countries.

The CEO of the Saudi Electricity Company, Fahad Al-Sudairi, said that the signing of this memorandum comes in line with with the Ministry of Energy's aspirations aimed at sustaining the energy sector, raising its reliability and expanding its