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Enel and Saudi Arabia Sign Green Technologies Deal

Posted on: Monday, 23 July 2007, 12:11 CDT

Enel and the Saudi Arabian General Investment Authority have signed a memorandum of understanding to facilitate the introduction of advanced environmentally friendly technologies in Saudi Arabia and launch joint R&D projects in the energy sector.

The Saudi Arabian General Investment Authority (SAGIA) is the Saudi Arabian government agency that developed and manages the 'economic cities' program, which envisages the construction of six new cities in outlying areas with a view to rebalancing the economic development of the kingdom.

The six new cities will have advanced green technologies and cutting edge networks and services. Enel has been chosen as a key partner in this ambitious project thanks to its know-how and capacity for innovation in the electricity sector.

Under the agreement, SAGIA will assist Enel in identifying and carrying out investments to support the expansion of the Italian company's presence in Saudi Arabia.

Projects will also include the installation of digital meters with remote reading and management capabilities, the automation and development of the electricity transport and distribution grids, and the development of innovative projects in the renewables sector, such as high-efficiency thermodynamic solar plants.

"This agreement is an important opportunity for Enel and Italy to strengthen our co-operation with one of the countries with a key role in the world's energy future. Enel is proud to participate in this development opportunity which is compatible with the environment and without precedent in the world. It offers us an opportunity to apply all of the most advanced innovations in the generation, transport and distribution of electricity on a large scale," commented Enel CEO Fulvio Conti.

Source: Datamonitor

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