, Saudi Arabia

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.

READ MORE: Singapore digs deep to unleash geothermal energy potential

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.

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