Riyadh – Mubasher: The National Grid Saudi Arabia, China Electric Power Equipment and Technology (Chinese CET), and ACWA Power have signed a memorandum of understanding (MoU) to inspect new opportunities in cross-border interconnections and power grids.
The deal was signed by Laith Al Bassam; CEO of National Grid Saudi Arabia, Jia Zhiqiang; President of CET, and Mohammad A. Abunayyan; chairman of ACWA Power.
The three parties are working on studying and evaluating the underlying business opportunities in the fields of investment and development of new cross-border interconnections between Saudi Arabia and neighbouring countries, ACWA Power said in a statement.
The firms will also study the future power grid projects whether inside or outside the kingdom.
In the same vein, the deal aims at studying benefits arising from establishing a new joint venture as a product of the collaboration, to invest in new private interconnections and grid projects.
