The Saudi Power Procurement Company (Principal Buyer) announced the signing of three strategic Memoranda of Understanding with global companies GE Vernova and Jacobs. This milestone aims to support the transformation of the energy sector in the Kingdom and open new horizons in technology, sustainability, and clean energy, coinciding with the visit of the President of the United States to Saudi Arabia and the accompanying Saudi-U.S. Investment Forum.
The first MoU with GE Vernova covers several key areas, most notably: commercialization of carbon capture technologies, localization of repair technologies for H-class hot gas path components, development of advanced laboratories for products compatible with the local environment, enhancement of local manufacturing capacity, and contribution to consulting services in environmental sustainability and carbon footprint analysis. The agreement also includes training and knowledge transfer programs in turbine technologies across different applications such as combined-cycle, wind, and hydropower.
Meanwhile, the MoU with Jacobs focuses on supporting the development of the Kingdom’s first pumped hydro energy storage project, commercialization of carbon capture technologies for power generation, providing consulting services related to asset evaluation and capital expenditure, and enhancing digital transformation, data management, and data-driven decision-making.
These agreements fall within the broader framework of the Kingdom’s efforts to achieve the goals of Saudi Vision 2030, by enhancing the energy mix, increasing reliance on clean energy, localizing global technologies, and boosting efficiency and investment in national capabilities.
The forum reflects the depth of the economic partnership between Saudi Arabia and the United States and reaffirms the Principal Buyer’s commitment to working with global partners to achieve a sustainable and efficient energy future in the Kingdom.
