Qatar Petroleum Qatar Electricity plan solar power venture
Date
12/23/2015 8:11:12 AM
(MENAFN- The Peninsula) The Prime Minister and Minister of Interior H E Sheikh Abdullah bin Nasser Al Thani looks on as Saad Sherida Al Kaabi President and CEO of Qatar Petroleum and Fahad Hamad Al Mohanadi General Manager & Managing Director of Qatar Electricity and Water Company sign the MoU.
DUBAI: Qatar Petroleum and Qatar Electricity and Water Co (QEWC) said they had agreed to establish a venture to generate electricity from solar power.
A memorandum of understanding signed on Wednesday provides for Qatar Petroleum to own 40 percent of the venture and QEWC
the remainder. They did not give details of their solar generation plans.
The signing ceremony was attended by H E Sheikh Abdullah bin Nasser Al Thani the Prime Minister and Minister of Interior.
The MoU was signed by Saad Sherida Al Kaabi President and CEO of Qatar Petroleum and Fahad Hamad Al Mohanadi General Manager & Managing Director of Qatar Electricity and Water Company the MoU paves the way for a 40-60 partnership between QP and QEWC respectively.
The Prime Minister hailed the MoU and stressed the importance of such partnerships in diversifying sources for energy production and in increasing reliance on renewable sources.
The PM said: "Qatar is continuing in its efforts to provide sustainable sources of energy and to help conserve the environment as well as our natural resources as we implement the environmental pillars of Qatar National Vision 2030 and protect the rights of future generations."
Al Kaabi expressed pleasure at the signing of the agreement saying it enhances QP’s strategic goals to achieve the highest international health and safety and environmental protection standards.
Electricity production by QEWC and its subsidiaries is expected to rise to about 11000 megawatts in the first half of 2018 from around 8600 MW currently the company said.
Reuters