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ACWA Power signs a memorandum to promote energy research in Iraq
Economy News - Baghdad
ACWA Power, a Saudi company specializing in the development and operation of power generation and water desalination plants, has signed a Memorandum of Understanding with the Iraq Energy Institute.
"The memorandum aims to strengthen cooperation frameworks in research development projects and strengthen capacity building programs, which will contribute to the optimal development of the energy sector in the Republic of Iraq," ACWA Power said in a statement on Wednesday.
"The MoU is a bridge to further alliances between ACWA Power and Iraq's energy players," said ACWA Power chairman.
"The MoU marks a solid start to a productive and mutually beneficial relationship based on knowledge sharing and optimal energy utilization between Saudi Arabia and Iraq," Mohammed Abunayyan added.
The MoU includes the commitment of ACWA Power and the Iraq Energy Institute to participate in the events of both parties, workshops and activities, as well as the exchange of experiences of consultants and senior management teams in events and forums.
The partnership facilitates technical dialogues and knowledge exchanges with a view to devising solutions to the challenges facing the region in the energy and water sectors, and to improve the investor community between the public and private sectors in Iraq.
The memorandum of understanding was signed by Yasar Al-Maliki, Director General of the Iraq Energy Institute, and Mohammed Fata Nahhas, Director of Business Development at ACWA Power.
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