Riyadh - Mubasher: Saudi Electricity Company’s (SEC) announced that it will sign seven memoranda of understanding (MoUs) with a number of Chinese and Japanese specialized companies on 31 August and 1September.
The agreements will be signed on the sidelines of the visit of King Salman bin Abdulaziz Al Saud of Saudi Arabia to China and Japan.
The first will be a three-year MoU with China’s Shanghai Electric to transfer the energy-related services and invest in independent power production (IPP) projects, according to a bourse filing on Monday.
SEC will ink two three-year MoUs with Huawei and ZTE to cooperate in the fields of networks, smart gauges, solar power and energy training.
The Saudi company will ink a two-year agreement with Chinese utilities provider in cooperation with Saudi Aramco to finance, invest, build, operate and maintain power plants and renewable energy projects in the Kingdom based on the IPP.
The electricity firm will sign a five-year MoU with Tokyo Electric Power Co. (TEPCO) related to energy demand management.
The other two MoU will be for valid for two years each and will be inked with JGC Corporation and Mitsubishi to build waste-to-energy plants, finance, build, operate and maintain power plants, and renewable energy projects across the Kingdom.
SEC stated that there are no obligations will be incurred as a result for these agreements. The deals will be valid starting from the date of signing.
