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EDF and TAQA Geothermal Sign Landmark MoU to Advance Geothermal Energy in Saudi Arabia
The MoU was signed by , and , reinforcing the commitment of both companies to advancing innovative and decarbonised energy technologies in the Kingdom.
The signing ceremony was attended by Gudmundur Thoroddsson, Chief Technology Officer of TAQA Geothermal and Chairman of Reykjavik Geothermal, the joint venture partner.
Commenting on the MoU, , said:
added:
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This collaboration sets the stage for pioneering geothermal energy solutions in Saudi Arabia , paving the way for cleaner and more efficient power and cooling technologies. By leveraging their combined expertise, TAQA Geothermal and EDF aim to unlock the full potential of geothermal resources, reinforcing the Kingdom's leadership in renewable energy innovation.
The EDF Group is a key player in the energy transition, as an integrated energy operator engaged in all aspects of the energy business: power generation, distribution, trading, energy sales and energy services. The Group is a world leader in low-carbon energy, with a low carbon output of 434TWh, a diverse generation mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support the energy transition. EDF's raison d'être is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The Group supplies energy and services to approximately 40.9 million customers (1) and generated consolidated sales of €139.7 billion in 2023.
For more information: ksa.edf.com
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TAQA Geothermal is a joint venture between the PIF majority owned upstream Energy services and well engineering company TAQA and Reykjavik Geothermal, headquartered in Iceland and a leader in the field of geothermal resources and project development. The joint venture was established in 2023 and announced during the Public Investment Fund forum in March 2023 . TAQA Geothermal is active in the regional and international geothermal consultancy and project management fields with ongoing projects in Saudi Arabia and internationally. Resource assessment consultancy, designing and executing exploration and development programs and pilot project developments are all aligned to deliver on it's the vision of enabling clean, reliable and sustainable Geothermal Energy to the region.
For more information: https://www.tq.com/what-we-do/taqa-ventures/subsidiaries/taqa-geothermal/
Follow us on LinkedIn: https://www.linkedin.com/company/taqa-geothermal/?viewAsMember=true
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