EDF Saudi Arabia and TAQA Geothermal Energy Company have signed a memorandum of understanding (MoU) to collaborate on geothermal energy development in Saudi Arabia, marking a key step in the Kingdom’s transition towards cleaner energy sources.
The agreement, signed at the third edition of the Public Investment Fund (PIF) Private Sector Forum in Riyadh, will focus on geothermal power generation, heating, ventilation, and air conditioning (HVAC) applications, as well as compressed air energy storage.
EDF Saudi Arabia CEO Omar Aldaweesh and TAQA Geothermal CEO Meshary Al-Ayed formalized the partnership, which aims to accelerate the deployment of innovative and low-carbon energy technologies in the region. The signing ceremony was attended by Gudmundur Thoroddsson, Chief Technology Officer of TAQA Geothermal and Chairman of Reykjavik Geothermal, TAQA Geothermal’s joint venture partner.
“This partnership is a natural progression of EDF’s longstanding commitment to Saudi Arabia’s energy sector,” Aldaweesh said in a statement. “By collaborating with TAQA Geothermal, we are leveraging our expertise to explore new frontiers in geothermal energy and compressed air energy storage. This initiative aligns with Saudi Arabia’s Vision 2030 and EDF’s Ambitions 2035, reinforcing our shared commitment to sustainability.”
Saudi Arabia is ramping up efforts to diversify its energy mix as part of its Vision 2030 strategy, which aims to reduce dependence on fossil fuels and expand the use of renewable energy sources, including geothermal power.
EDF, a French energy giant, has been active in Saudi Arabia for over a decade, working on various sustainable energy projects, while TAQA Geothermal, a subsidiary of Abu Dhabi National Energy Company (TAQA), specializes in geothermal exploration and development.
The partnership is expected to facilitate technology transfer and support the growth of the geothermal sector in the Kingdom.
