• News & Knowledge
  • 17 May 2022

TAQA and RG execute an Alliance to explore and identify opportunities for geothermal projects in the Kingdom of Saudi Arabia and possibly other regions

Industrialization and Energy Services Company (TAQA) announced today during PetroEnvironmnet Conference and exhibition 2022, the formation of a strategic alliance with REYKJAVIK GEOTHERMAL (RG) EHF, headquartered in Reykjavík- Iceland, to explore and identify opportunities for geothermal projects in the Kingdom of Saudi Arabia and possibly other regions, in addition to activities related to geothermal projects such as, designing, drilling, constructing, monitoring, and managing geothermal wells.

“Partnering with RG, the best in class and internationally recognized company in the geothermal, baseload and clean/renewable energy fields is an important step to realizing TAQA 2021 strategy. Saudi Arabia is enriched by several types of geothermal resources specially at the western parts along the Red Sea coast, as such TAQA is actively seeking opportunities to contribute to the Kingdom’s Energy Transition, Decarbonatization, Saudi Green, and reducing carbon emissions to net zero by 2060 Initiatives. This alliance with RG will position TAQA as a leader and contributor in realizing the Saudi 2030 vision.”
Khalid Nouh, TAQA Chief Executive Officer
““RG is thrilled to be partnering with TAQA to explore geothermal opportunities in the Kingdom of Saudi Arabia. We first came to the Kingdom over a decade ago with a vison of bringing clean, reliable baseload energy to the Kingdom, and in TAQA we have found a partner that aligns with our vison. RG truly believes that our combined expertise in the energy industry will pave the road to realizing the Kingdom’s geothermal potential and we look forward to collaborating on what are sure to be exciting projects in the near future.” ”
RG’s Chief Executive Officer, Magnús Ásbjörnsson

About RG

Founded in 2008 by one of the world’s most experienced geothermal management and science teams. As one of the world’s premier geothermal development teams, RG has the experience to unlock the vast commercial potential of geothermal energy around the world and is committed to the sustainable generation of near zero-emission baseload power. To find out more visit: www.rg.is/en

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