Reykjavik, TAQA to develop geothermal power in Saudi Arabia
They plan to develop 1GW geothermal capacity in the country.
Iceland’s Reykjavik Geothermal and Industrialisation and Energy Services Company (TAQA) form a joint venture to establish TAQA Geothermal Energy LLC, to develop power resources in Saudi Arabia.
TAQA Group CEO Khalid Nouh the joint venture aims to develop power equivalent to 1 gigawatt of geothermal power in Saudi Arabia which will support the Saudi and the Middle East Green Initiatives.
The parties said in a joint statement that this is also aligned with the country’s aim to reduce its carbon emissions to achieve net zero.
“It goes beyond the 1+ GW of high-enthalpy power generation, our new joint venture aims to develop to large-scale direct-use of geothermal cooling and desalination projects using the Kingdom's plentiful low-and medium enthalpy resources,” said RG chair Godmundur Thoroddsson.