Saudi and Iraq are looking at developing electrical interconnection project and co-operation in the field of renewable energy. This was discussed at a meeting in Riyadh between Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, with Iraqi Minister of Electricity, Engineer Ziad Ali Fadel.
The co-operation between the two countries is expected to help support the reliability of the electrical networks in both the countries, achieving economic savings, thus promoting the optimal energy mix for electricity production and boosting up the integration of renewable energy into the electrical networks. This will also help achieve optimal investment in electricity generation projects.
The delegates discussed the opportunities for cooperation in the field of renewable energy between the two nations and utilising the expertise and potential of ACWA Power in this trending and vital field that will support in developing future projects in Iraq.
The meeting focused on Saudi’s pioneering experience in smart meters and how to transfer it to Iraq along with the opportunities ahead for Saudi companies as well as Iraqi companies – as contractors and manufacturers in developing the infrastructure of smart meters.
Iraq was updated on the financial and regulatory reforms that the electricity sector in the Kingdom underwent over the past three years, and all kinds of possibilities of exchanging experiences between the two countries in this field.