The Kingdom and the European Union concluded their talks and signed a memorandum of understanding to enhance cooperation in the field of energy. With the aim of accelerating joint efforts to benefit from energy transitions and ensure its supply in accordance with the Sustainable Development Goals.
On the sidelines of meetings activities World Economic Forum In Riyadh, Energy Minister Prince Abdulaziz bin Salman and European Union Energy Commissioner Cadre Simpson held a meeting Bilateral meetings To discuss prospects for cooperation in the field of energy and clean technologies.
During the meetings, strengthening bilateral relations and achieving the goals of the Paris Agreement and the outcomes of the Twenty-Eighth Conference of States Parties to the United Nations Climate Convention (28COP) were discussed.
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The two sides stressed the importance of accelerating the pace of investment in renewable energy, cooperation in electrical connectivity, and integrating renewable energy sources into electricity networks, through developing the electrical infrastructure by adopting various solutions such as demand management, smart grids, and network flexibility, through developing the electrical infrastructure by adopting Various solutions such as demand management, smart grids and network resilience.
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The Saudi and European sides also noted their joint commitment to accelerating investment in renewable energy, enhancing cooperation in electrical connectivity and integrating renewable energy sources into electricity networks, through developing electrical infrastructure and adopting multiple solutions, such as demand management, smart grids, and network flexibility, in addition to investing in hydrogen. and clean technology sectors, strengthening industrial partnerships, ensuring reliable energy markets and providing supplies at a reasonable cost.
Saudi Arabia and the European Commission concluded their talks by signing a memorandum of understanding for cooperation in the field of energy, with the aim of achieving common ambitions and accelerating joint efforts to exploit available economic opportunities. The memorandum includes several aspects in the energy and clean technologies sectors, with an emphasis on the sustainability of energy markets and the provision of affordable supplies.
