ABU DHABI – United Arab Emirates (UAE) and Saudi Arabia signed on Monday a bilateral agreement to strengthen cooperation in renewable energy field in order to improve the performance of the energy sector in both countries. The King Abdullah City for Atomic and Renewable Energy (KACARE) and Masdar, also known as the Abu Dhabi Future Energy Company, signed the agreement which aims to study opportunities for collaboration in research and development, joint projects in renewable energy, clean electricity projects and green technology investment funds as well as establishing a committee from both sides to study and assess the feasibility of each area of cooperation and to prepare appropriate recommendations. General Sheikh Mohamed bin Zayed Al-Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, attended the signing of the strategic framework agreement, hailing the agreement and the strong historic and strategic relationship between the UAE and Saudi Arabia, said Emirates News Agency (WAM) in a statement. “Increased cooperation among GCC countries is crucial to advancing security, stability and sustainable growth throughout the region,” added Sheikh Mohamed. He added that the enhanced cooperation between Masdar and KACARE will contribute to extending the regions energy leadership. The agreement was signed by UAE Chairman of Masdar Dr. Sultan Ahmed Al Jaber and Dr. Hashim bin Abdullah Yamani, Saudi President of KACARE. — SG
