Saudi Arabia signed 7 global and local agreements to localize the energy sector and employ graduates specialized in the renewable energy field. The agreements were signed during the Saudi Arabia Smart Grids Conference 2023 in Riyadh.
During the conference, the Saudi Minister of Energy, Prince Abdulaziz bin Salman, confirmed that Saudi Arabia aims to transition to clean energy. He pointed out that citizens under the age of 30 will be carrying out this transition.
Localizing the energy sector
During the conference, Energy Care Holding and the Chinese Jiangsu Linyang Energy Co., signed an agreement aimed at localizing energy storage technology in the kingdom. Jiangsu Linyang Energy specializes in providing smart energy, renewable energy, and solar panel systems.
The second agreement was between Chint Group and Arabian Transformers Co (ATC), to localize the electricity sector in Saudi Arabia. Chint Group specializes in smart energy solutions and digital technology in the electricity industry.
The System House Factory for Electric Panels (SEP) and the Chinese Dongfang Electric concluded their agreement during the conference. Dongfang Electric specializes in providing clean energy and transferring smart localization technology to ring main units.
Graduate training
The Saudi College of Technology for Selective Services also signed an agreement with the training center of the National Batteries Company. The agreement, sponsored by the King Abdullah City for Atomic and Renewable Energy, aims to employ graduates specialized in renewable energy.
In addition, the Saudi Arabia College of Service Technology and Elsewedy Electric concluded a cooperation agreement to train graduates in the field of energy and industry.
These agreements fall within the framework of Saudi Arabia’s goal to increase localization and increase the energy sector’s local component by 75 percent by 2030. The localization strategy includes the renewable energy sector, oil, gas, hydrogen, carbon management, the maritime sector, the petrochemical sector, and the nuclear energy sector.
Read: Egypt, Saudi Arabia’s ACWA Power sign $4 bn green hydrogen deal
Energy technology localization and transfer
Localizing power plants is part of the initiative to localize and transfer energy technology to the electricity sector in the Kingdom. The strategy aims to find solutions for the optimal exploitation of traditional energy sources, raising the efficiency of power generation, and reducing emissions.
Saudi Arabia seeks a future that guarantees zero carbon by 2060 and is committed to clean energy and sustainability. It is also moving towards confronting the challenges of energy and climate change. That is through innovative solutions that include the circular carbon economy and the diversification of energy sources. Hence, Saudi Arabia aims to produce 50 percent of its energy consumption from renewable sources by 2030.
The Smart Grids Conference spanned three days starting December 18. It hosted more than 120 local, regional, and international speakers who discussed the most prominent developments and challenges in the field of networks.
Moreover, the conference addressed artificial intelligence applications, the technical revolution, the future of energy, and the readiness of future facilities.
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