The King Abdullah Petroleum Studies and Research Center (KAPSARC) signed a Memorandum of Understanding (MoU) with the Gulf Cooperation Authority Interconnection Authority (GCCIA) on December 12 to enhance collaborative, impactful research within the electric power sector and to develop the electricity market in the GCC.
The collaboration will involve joint working on research and conferences related to developing the GCC electricity power market.
Along with focusing on developing policies and insights, the joint research collaboration will exam the key issues affecting electricity market integration within the GCC and MENA region, and propose solutions to help accelerate the electricity trade market.
The MoU was signed by Saad Alqarni, KAPSARC Communications Director, and Eng. Ahmed Al-Ebrahim, Chief Executive Officer of GCCIA.
Alqarni highlighted the importance of the partnership that aligns with the goals of Vision 2030, and underlined KAPSARC’s strategic focus on increasing its partnerships with major players in the energy sector.
“KAPSARC’s research collaboration with the GCCIA will facilitate continued progress toward regional electricity market integration by providing decision-makers in the region with insights into both the challenges and the opportunities,” Alqarni explained.
Eng. Ahmed Al-Ibrahim expressed confidence that the agreement’s intention to help develop the power market in the GCC region will benefit both parties, and contribute to achieving their stakeholders’ objectives.
KAPSARC was founded as a non-profit global institution for independent research into energy economics, policy, technology, and the environment, across all types of energy. The Center is focused on finding solutions for the most effective and productive use of energy to enable economic and social progress nationally, regionally and globally.
GCCIA’s mission is to enhance the reliability and efficiency of power systems and improve the electricity trade market in the Gulf countries.