♨️ EDF Saudi Arabia & TAQA Geothermal Join Forces for Geothermal Expansion in KSA

EDF Saudi Arabia and TAQA Geothermal Energy Company have signed a strategic Memorandum of Understanding (MoU) to collaborate on geothermal energy technologies, including power generation, HVAC applications, and Compressed Air Energy Storage (CAES) in Saudi Arabia. The agreement was formalized by Omar Aldaweesh, CEO of EDF Saudi Arabia, and Meshary Al-Ayed, CEO of TAQA Geothermal Energy Company, during the PIF Private Sector Forum in Riyadh. TAQA Geothermal Energy was founded as a joint venture between PIF-majority-owned TAQA and Iceland-based Reykjavik Geothermal, with an initial 1 GW development mandate for Saudi Arabia. This move further solidifies the region’s growing investment in alternative energy solutions, following ADNOC and Tabreed’s launch of the region’s first geothermal cooling plant in Masdar City, Abu Dhabi.

October 2026

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