Saudi developer ACWA Power has signed an agreement with Syria’s Ministry of Energy to study and propose renewable energy projects, including up to 1,000 megawatts (MW) of solar and storage and 1,500 MW of wind power, the Saudi Press Agency (SPA) reported.

The deal, announced during Saudi Arabia’s participation in the Damascus International Fair, also includes evaluating Syria’s existing power plants for potential upgrades and conducting technical studies to optimise the country’s electricity grid and energy mix.

Saudi Electricity Company (SEC) signed an agreement covering electricity generation, transmission and distribution, including technical and consulting support. The Saudi Electricity Project Development Company signed a separate MoU focusing on engineering services and grid infrastructure projects.

Six additional memoranda of understanding (MoUs) were signed between Syrian authorities and Saudi companies covering oil and gas exploration, drilling, natural gas processing, geophysical surveys, seismic data analysis, and research in geosciences, SPA said.

Saudi firms TAQA and ADES Holding signed MoUs on oil and gas field development, while Arabian Drilling inked an MoU for oilfield services, maintenance and training while ARGAS signed an MoU for geophysical and geological surveys.

Read more: Syria signs $4bln airport redevelopment pact with Qatari-Turkish-US consortium

(Writing by N Saeed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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