Under the three-year agreement, National Grid SA and Schneider Electric will cooperate in developing and advancing electricity infrastructure in the country.
The memo will facilitate the exchange of knowledge, experience, best practices and technology between the two organizations through periodic technical forums hosted interchangeably at their premises.
The companies will also collaborate as partners for decision making on standards and specifications, engineering and design, and maintenance and operation. Additionally, Schneider Electric will provide Saudi Electricity Co. (SEC) and National Grid SA with training on mutually agreed focus areas, particularly environmental issues and regulations impacting the industry.
The agreement comes at a time when Saudi Arabia is witnessing huge investments in the power transmission and distribution sector. According to Business Monitor International, the $80 billion (excluding nuclear power) 10-year investment plan for electricity infrastructure 2008-2018 is driving significant activity in the energy sector. BMI also predicts an additional 30 GW to be added to the current estimated capacity of 51.6 GW by 2020.
During the three-year duration of the agreement, Schneider Electric will step-up its efforts to further recruit Saudi engineers in all necessary fields. The company will also use its internationally renowned expertise in design, installation and maintenance, in addition to leveraging its training experience towards the successful implementation of this agreement.