Saudi Aramco signed on Monday a Memorandum of Understanding (MoU) with Dubai Electricity & Water Authority (DEWA) to foster collaboration in power supply and demand management, the Saudi state-run energy giant announced.
According to the company's statement, the MoU will also provide a framework to assess potential collaborations and ventures in new energy and smart grid applications, digital transformation, and operational excellence.
"We look forward to our partnership with DEWA as it is an important step to achieve our shared objectives and goals that aim at identifying new opportunities within our business for deployment of new energy, smart grid and digital applications.
"Through this partnership, we are pursuing an exchange of experiences and best practices that will help both parties to leverage technology solutions and accelerate business growth and drive innovation in the energy sector," said vice president of Power Systems at Saudi Aramco, Abdulkarim Al-Ghamdi.
"The MoU will help our efforts in digital transformation in the energy industry by applying effective technologies to enable operational efficiencies. The collaboration with DEWA will complement Saudi Aramco’s ongoing energy and technology initiatives," he added.
DEWA’s managing director and CEO, Saeed Mohammed Al Tayer, said the collaboration with Saudi Aramco supports regional efforts to enhance the energy, water, smart transformation, smart grids, energy efficiency and sustainability sectors.
According to the statement, Saudi Aramco is deploying smart control systems as part of the intelligent Power Center currently under construction. The center aims to enhance the effectiveness of power generation, transmission, distribution, and asset management through the implementation of latest real-time power management technologies.
By Hale Turkes