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Saudi Arabia’s Vision 2030 strongly emphasizes the development of green energy, with the kingdom aiming to generate 50 percent of its electricity from renewables and the remaining half from gas. This strategy is aimed at reducing the country’s dependence on fossil fuels.
The latest Memorandum of Understanding (MoU) signed by the kingdom further solidifies Saudi Arabia’s position as one of the world’s leading proponents of renewable energy solutions.
On Friday, Saudi Arabia and the United States signed a MoU to create intercontinental green transit corridors that pass through Saudi Arabia.
The MoU serves as a blueprint for crafting a protocol to facilitate the establishment of intercontinental green transit corridors traversing the kingdom. These corridors will connect Asia and Europe, featuring a comprehensive infrastructure network for transporting renewable electricity and clean hydrogen. This infrastructure includes transmission cables, pipelines, and rail linkages.
This agreement is intended to achieve several objectives, including enhancing energy security, fostering the growth of the digital economy through data transmission using fiber optic cables, bolstering commercial trade, and facilitating the movement of goods by connecting railways and ports. Ultimately, this initiative aims to reduce Europe’s dependence on fossil fuels and enhance its resilience against energy-related disruptions.
“The Kingdom of Saudi Arabia welcomes the role of the United States of America to facilitate and support the negotiations, establishment, and implementation of the green corridors transit protocol with the relevant countries,” said a statement by the Saudi Press Agency (SPA).
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