The Investment Authority and King Abdullah City (KIA) signed recently an agreement with the King Abdullah City for Atomic and Renewable Energy (KA CARE) to attract and develop investments in the field of nuclear and renewable energy in Saudi Arabia.
The Governor of the General Authority for Investment Ibrahim bin Abdul Rahman Al Omar said that this agreement implements the “Invest in Saudi Arabia” initiative.
The King Abdullah bin Abdulaziz Al Saud, Chairman of KA CARE, indicated the agreement is part of the bilateral cooperation with the Investment Authority to support the localization of nuclear and renewable energy, the provision of data and information on renewable energy in the Saudi’s energy sector, the exchange of market and data information, and the regulation on energy storage storage.
The Saudi’s nuclear energy program is a strategic sector in line with the vision of the Kingdom 2030.
