The Ministry of Energy and Saudi Industrial Development Fund (SIDF) exchanged today the documents of a cooperation agreement. The agreement exchange aims to integrate the enablement of companies and investors within the energy sector through financing solutions to realize their common objectives in alignment with Saudi Vision 2030. The exchange was in the presence of H.E. Bandar Alkhorayef, Minister of Industry and Mineral Resources, Chairman of SIDF.
The agreement was signed on behalf of the Ministry of Energy by Eng. Ahmed Al-Zahrani, Assistant Minister for Development and Excellence, and on behalf of SIDF by Dr. Ibrahim Al-Mojel, CEO. The signing took place during the 4th edition of SIDF's Private Sector Enablement Event, held at the King Abdullah Financial District.
The agreement includes cooperation in multiple fields, such as supporting innovation, AI, and renewable energy programs; training and developing human talents in the energy sector; conducting shared research; exchanging expertise, information and data; and leveraging technical and human potentials. The signed agreement aims to enhance the execution of projects and initiatives of shared interest that contribute to maximizing the energy sector's realizable value and increasing the participation of the private sector to that end.
