(MENAFN- Qatar News Agency) HE Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa Al-Thani witnessed on Wednesday the signing of a memorandum of understanding between Qatar Petroleum (QP) and Qatar Electricity and Water Company (QEWC) to establish a joint company for the generation of electricity from solar power.
Signed by QP President and CEO Saad Sherida Al Kaabi and QEWC General Manager and Managing Director Fahad Hamad Al Mohanadi, the MoU paves the way for a 40-60 partnership between QP and QEWC respectively.
HE the premier hailed the signing of the MoU and stressed the importance of such partnerships in diversifying sources for energy production and in increasing reliance on renewable sources.
"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," HE Sheikh Abdullah bin Nasser said.
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.
"QP is aware of its immense responsibility to help preserve the environment, support sustainable development efforts, and ensure the long term optimal utilization of our natural resources; and for that end, we have worked to harness the most efficient technological solutions to meet the environmental challenges of the 21st century," Al Kaabi said.
He added that signing the MoU is a "continuation of QP's environmental commitment demonstrated by various environmental projects, such as the reduction of gas flaring and greenhouse gas emissions, and the Jetty Boil-off Gas Recovery (JBOG) Project," in addition to the company's close association with the pillars of Qatar National Vision 2030, which was launched and guided by HH the Emir Sheikh Tamim bin Hamad Al Thani.
Al Mohanadi indicated that the signing of the MOU coincided with ongoing global efforts to preserve the environment. "While Qatar Electricity and Water Company continues to strengthen its position locally, regionally and internationally, the company is moving forward in diversifying sources of electric power in the State of Qatar through the use of solar energy, particularly amidst expectations of a rising demand for electricity in the coming years." He stressed that QEWC is continuing its efforts to contribute to Qatar's water and electricity security and the preservation of the environment. He also pointed out that production of electricity by QEWC and its subsidiaries will rise from about 8,600 megawatts currently to about 11,000 megawatts in the first half of 2018.
Qatar is one of the first Gulf states to diversify its economy by increasing investment in clean and renewable energy sources, especially solar energy as the best alternative source of energy. The new partnership will focus on investing in Qatar in a manner that helps sustainable development and supports investment in low carbon renewable energy such as solar.
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