EDF and TAQA Geothermal sign an agreement to develop geothermal energy in Saudi Arabia
EDF Saudi Arabia and TAQA Geothermal Energy Company have signed a memorandum of understanding to develop geothermal energy in the Kingdom. This initiative aims at electricity production and HVAC applications, aligning with Saudi Arabia’s Vision 2030.
| Sectors | Geothermal Energy, Energy Storage, Compressed Air Storage, Deep Heat |
|---|---|
| Themes | Investments & Transactions, Commercial Partnerships |
| Companies | EDF |
| Countries | France, Saudi Arabia |
EDF Saudi Arabia and TAQA Geothermal Energy Company formalized a memorandum of understanding at the Private Sector Forum of the Public Investment Fund (PIF) in Saudi Arabia. This collaboration aims to develop geothermal technologies applied to electricity production and cooling systems (HVAC). Additionally, compressed air energy storage will be explored as part of this partnership.
A strategic partnership for the energy sector
The agreement was signed by Omar Aldaweesh, CEO of EDF Saudi Arabia, and Meshary Al-Ayed, CEO of TAQA Geothermal Energy Company. The ceremony also gathered Gudmundur Thoroddsson, Chief Technology Officer of TAQA Geothermal and Chairman of Reykjavik Geothermal, a key player in the project.
This partnership aims to leverage the Kingdom’s geothermal resources to strengthen energy supply and diversify existing sources. EDF, a long-time player in the Saudi energy landscape, intends to use its expertise to accelerate the implementation of advanced technological projects in the field of renewable energy.
Infrastructure development and technological innovation
The exploitation of geothermal energy in Saudi Arabia represents significant potential to optimize the country’s energy efficiency. By combining their expertise, EDF and TAQA Geothermal plan to implement pilot projects to demonstrate the feasibility of this technology.
Meshary Al-Ayed emphasized that geothermal energy can play a key role in the global energy transition, particularly through its application in building cooling—a major challenge in Saudi Arabia. The integration of these technologies would improve grid stability and optimize energy resource management.
An initiative aligned with Vision 2030
The project aligns with Saudi Arabia’s Vision 2030, which emphasizes energy diversification and technological innovation. It also supports EDF’s strategic ambitions for 2035, focused on deploying decarbonized solutions.
Through this collaboration, EDF and TAQA Geothermal aim to demonstrate the relevance of geothermal energy in meeting the Kingdom’s growing energy needs. Exploring compressed air energy storage could also pave the way for new solutions to optimize electricity production.
