At the King Abdullah Petroleum Studies and Research Center (KAPSARC), HRH Prince Abdulaziz Bin Salman Bin Abdulaziz Al Saud, Minister of Energy, signed today a renewable energy memorandum of understanding (MoU), and a framework agreement for cooperation in the area of peaceful uses of atomic energy, with Her Excellency the Minister of Energy Transition and Sustainable Development of the Kingdom of Morocco, Dr. Leila Benali.
In a statement of the Minister of Energy on this occasion, HRH explained that the signing of the MoU and the framework agreement comes in implementation of the directives of the leaderships of the two sisterly countries, which aim to develop close relations between the two countries in all areas, especially in the areas of energy, in a way that supports the development efforts and economic prosperity of the two countries, and contributes to enhancing energy security and supporting the growth of the global economy.
It is worth noting that the cooperation between the two countries in the area of peaceful uses of atomic energy and renewable energy aims to meet their need to develop new energy resources, and affirms their keenness on the importance of security of energy supplies for each of them, and also supports their efforts to develop civil and peaceful uses of atomic energy in a way that provides security, safety and preservation of the environment.
The aim of the renewable energy MoU is to develop cooperation and exchange information and experiences in policies, legislative regulations, preliminary studies, and mechanisms for launching projects related to the sector. Moreover, the MoU enhances the efforts to localize value chains and encourages research and discussion of investment and financing opportunities in the two countries to support efforts to localize industries in the area of renewable energy and develop their projects, and build human competencies in the two countries in this area. Furthermore, the MoU encourages discussing opportunities to raise the level of technologies and their applications in the area of renewable energy between the two sisterly countries.
Moreover, the framework agreement for cooperation in peaceful uses of atomic energy provides for cooperation in several areas, most notably: basic and applied research in the area of peaceful uses of atomic energy, and issues related to nuclear reactors, including design, construction, operation, nuclear fuel cycle, radioactive waste management, innovative technologies for new generations of nuclear reactors, engineered and marketed globally, programs for qualifying human resources related to atomic energy, exchanging experiences between the two parties, and taking advantage of the accumulated experiences to establish investment entities to manage nuclear energy facilities, or joint organizations in both countries.
