Saudi Electricity receives approval for a 6.65% regulated weighted average cost of capital on its regulated asset base for 2024-2026 regulatory period

Saudi Electricity Company (SEC) has taken a significant step in its sustainability journey by signing a Memorandum of Understanding (MoU) with Net-Zero Technology Centre (NZTC) and Accenture. The agreement aims to leverage digital and AI technologies to promote low-carbon solutions and foster innovative solutions in the Kingdom and beyond.
 
Together they will develop and launch a Sustainability Center of Excellence, to drive growth of low-carbon solutions and enable SEC’s Net-Zero targets by stimulating national innovation and entrepreneurship while upskilling the local workforce. 
“Today marks a significant milestone in our journey towards a sustainable future, as Saudi Electricity Company proudly partners with Net-Zero Technology Centre and Accenture to establish the Sustainability Center of Excellence. 
This collaboration is a testament to our unwavering commitment to driving the decarbonization agenda in the Kingdom and across the Middle East. 
The Center will be a beacon of innovation and advancement, harnessing cutting-edge digital and AI technologies to develop low-carbon solutions.” Khalid Algnoon, CEO of SEC.
As the Middle East’s largest electricity company, SEC understands the role it must play in helping to achieve this ambition and cement the region as a Net-Zero leader. The MoU affirms SEC’s commitment to sustainable and reliable power supply. It also showcases SEC’s appetite to leverage digital technology solutions to achieve decarbonization targets.