Schneider Electric, a global player in the energy management and automation sector, said it has signed a memorandum of understanding (MoU) with Saudi Electricity Company (SEC) to provide a wide range of products and solutions especially designed for the utility market.
As per the agreement, Schneider Electric will deliver its quality range of equipment and solutions especially designed for SEC activities which includes generation, transmission and distribution of electrical power across Saudi Arabia, said the company in a statement.
It will also provide services to different governmental, industrial, agricultural, commercial and residential sectors, and leveraging IoT to make life easier and collect real time information from the field to the enterprise level for asset management, it added.
The MoU is aimed at providing valuable financing solutions to the SEC to improve and optimize energy performance in Saudi Arabia, said Schneider Electric Country President Najib Al Naim after signing the deal with SEC executive VP for Distribution and Customer Services Mansour Al Qahtani.
"The agreement not only builds on an already productive relationship between Schneider Electric and SEC, it also offers additional energy management solutions to help reach the sustainability goals by reducing energy usage and improve safety, reliability, connectivity, and efficiency through comprehensive solutions that meet SEC needs and internship training for SEC fresh engineers," he added.
Schneider Electric CEO Jean Pascal Tricoire said: "We are honoured to have the opportunity to support SEC in optimizing energy uses and performance. We have been partners for quite some time, and to know that we can add value on a big scale through our solutions is such an achievement."
"We are committed to serve the local market, specially the utility market with high-quality solutions to improve efficiency, safety and reliability," stated Tricoire.
Schneider Electric, he stated, is leading the digital transformation of energy management and automation in homes, buildings, data centers, infrastructure and industries.
With global presence in over 100 countries, Schneider is the undisputable leader in power management – medium voltage, low voltage and secure power, and in automation systems. It provides integrated efficiency solutions, combining energy, automation and software, he added.
Al Qahtani said the SEC's co-operation with Schneider Electric is not new, as the two have been working together to implement and develop different projects in the electric infrastructure sector.
"We are happy to extend our collaboration to reach maximum sustainability. Such active co-operation will provide the consumer with reliable, safe and efficient power resources and increase the local content of electric materials used in SEC projects as one of the most important objectives that the company has implemented for localizing power industry, in the light of the kingdom vision 2030," he added.