Saudi Arabia and Turkey have signed a memorandum of understanding (MoU) to promote investment and cooperation in the renewable energy sector.
To this end, Saudi’s Energy Minister Prince Abdulaziz Bin Salman and the Turkish Deputy Minister of Energy and Natural Resources Alparslan Bayraktar have signed the pact.
The MoU is expected to enhance the partnership between the private and government sectors in Saudi Arabia and Turkey. As per the pact, there will be cooperation in the field of renewable energy and electricity, in addition to petroleum and gas through technical cooperation in the projects of this sector.
The MoU also includes enhancing the cooperation in the hydrogen field through research and development to increase its use. Additionally, there will be cooperation in the field of circular carbon economy, and that via exchanging the knowledge about the applications related to it.
Further, both the nations will also cooperate in strengthening digital transformation, innovation, cybersecurity apps, artificial intelligence in the energy sector, as well as cooperating in the field of using and applying the modern technologies in this fields, such as storage batteries.
