Saudi Arabian developer and operator of power generation and desalination plants Acwa Power has signed a memorandum of understanding with Iraq Energy Institute (IEI) – an independent non-profit policy institute – to collaborate on research development projects and enhance capacity building programmes that contribute to Iraq’s energy sector.
The agreement will see Acwa Power and IEI exchange expertise from consultants and senior management at organised events and forums, and has been formed to initiate professional dialogues that can help overcome challenges facing the region and elevate Iraq’s private-public investor community.
As part of the deal, Acwa Power will also take a leading role in IEI’s future scholarship programmes that grant Iraqi students the chance to work in the energy and water sectors, in cooperation with governmental and non-governmental partners.
The MoU was signed by managing director of IEI, Yesar al-Maleki, and business development manager at Acwa Power, Mohamed Fata Nahhas, in the presence of Acwa Power chairman, Mohammad Abunayyan, and vice chairman of IEI, Adnan Al Janabi.
Commenting on the development in a statement, Abunayyan said: “The signing of the MoU will certainly bridge to further alliances between Acwa Power and Iraqi energy players and is a robust start of a mutually beneficial relationship built on knowledge and exchange of energy proficiency between the Kingdom of Saudi Arabia and Iraq.”