Rome, 20 July 2007 The Saudi Arabian General Investment Authority (SAGIA) and Enel signed a Memorandum of Understanding which is intended to facilitate the introduction of advanced environmentally friendly technologies in Saudi Arabia and launch joint research and development projects in the energy sector.
Fulvio Conti remarked: This agreement is an important opportunity for Enel and Italy to strengthen our cooperation with one of the countries with a key role in the worlds energy future. Enel is proud to participate in this development opportunity which is compatible with the environment and without precedent in the world. It offers us an opportunity to apply all of the most advanced innovations in the generation, transport and distribution of electricity on a large scale.
SAGIA is the Saudi Arabian government agency that developed and manages the Economic cities programme, which envisages the construction of six new cities in outlying areas with a view to rebalancing the economic development of the Kingdom. At the same time, it is one of the largest ever attempts at strategically planned urban, social and economic growth with the adoption of highly advanced, competitive solutions in every field, from building to transportation and energy.
The six new cities will have advanced green technologies and cutting-edge networks and services. Enel has been chosen as a key partner in this ambitious project thanks to its know-how and capacity for innovation in the electricity sector.
Under the agreement, SAGIA will assist Enel in identifying and carrying out investments to foster the expansion of the Italian companys presence in Saudi Arabia. Among the various opportunities, projects will also include:
- the installation of digital metres with remote reading and management capabilities;
- the automation and development of the electricity transport and distribution grids;
- the development of innovative projects in the renewables sector, such as high-efficiency thermodynamic solar plants.