16/01/2018 07:53 AST

The Saudi Electricity Company (SEC) has signed on Sunday a cooperation agreement with 3 Japanese firms to implement "Electric Car Pilot Project in the Kingdom". The projects aims to evaluate and develop such trend in line of the company strategy of reducing dependency on oil and boosting environmental conservation standards by minimizing pollution associated with similar internal combustion engine (ICE) vehicles.

The agreement was signed by Executive Vice President, Engineering and Projects, Eng. Khalid Bin Saad Al-Rashed and officials of Tokyo Electric Power Company Holdings, Inc, Nissan Motor Company and Tecaoca Coco Energy Solutions Company. Following the signing of the agreement, Al-Rashed said that the project is an important step to transfer modern technologies and use the electric energy in general and electric car technologies in particular.

The upcoming period, he added, will witness additional efforts to assess utilization of such promising experiments.

Al-Rashed added that the agreement also includes implementation of a project to develop a fast electric charger to charge vehicles in half an hour. Also, Nissan Co. will lend SEC 3 electric cars and Tecaoca Coco Company will provide the company with 3 fast chargers, highlighting the international trend to expand usage of such cars. The international companies are exerting great efforts for future utilization of electric cars at the expense of the traditional cars.

According to the agreement, SEC will cooperate with the 3 Japanese companies to study operation of electric cars in the Kingdom and adapting them to the environment and requirement of their operation. Also, possibility of expanding the project and means of utmost utilization will be discussed in order to achieve the objective of both sides and future plans, confirming that SEC is striving to achieve whatever keeps pace with the latest technologies in the field of electric energy, in line with the aspirations of the Kingdom.

It is to be noted that, over the past years, SEC has signed a number of agreements and memos of understanding with leading Japanese companies to build strategic relations with international manufacturers to nationalize and transfer modern technologies in the fields of electric energy, standards and specifications, engineering and design, maintenance and operation, professional training programs, exchange of experiences, as well as scientific conferences and symposiums.


Saudi Gazette

SEC receives bids for two 380kV substations, OHTL projects

13/04/2025

Saudi Electricity Company (SEC) has announced that it has received bids from leading utility majors for the construction of two 380kV substations at Afif city in central Saudi Arabia in the Najd regi

Trade Arabia

GE completes first Saudi-led gas turbine maintenance project

09/04/2025

GE Vernova and Saudi Electricity Company (SEC) have announced the successful completion of the first gas turbine outage entirely planned and executed by GE Vernova's Saudi engineers and specialists.

Trade Arabia

68pc of SEC purchases from local factories

02/03/2018

The Saudi Electricity Company (SEC) said that 68 per cent of its purchases, during the past four years, came from 52 local factories, with a growth rate of 720 per cent compared to 2001.

S

Trade Arabia

Ticker Price Volume
SAUDIELECTRICITY Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
TAQA 3.17 0.01 (0.31%)
ACWAPOWER 322.00 0.40 (0.12%)
DEWA 2.68 -0.01 (-0.38%)
EMPOWER 1.61 0.01 (0.62%)
MARAFIQ 43.80 -1.70 (-3.74%)
Barwa Real Estate posts QR239.5m net profit for Q1

30/04/2025

Barwa Real Estate discloses its financial statements for the three month period ended March 31, 2025.

The results showed a net profit of QR239.5m attributable to the shareholders of the pare

The Peninsula

QIC Group reports net profit of QR205m for Q1

30/04/2025

Qatar Insurance Group, the leading insurer in Qatar and the MENA region, has announced a robust net profit of QR205m for the first quarter of 2025, up from QR194m in Q1 2024. The results were approve

The Peninsula

Middle East Pizza Hut operator Americana Restaurants Q1-2025 revenues are healthy

30/04/2025

Americana Restaurants has turned around its fortunes with revenues up 16.2% in Q1-2025, to total $573.4 million, and with net profit a healthy 16.5% higher to $32.6 million. This reverses a string of

Gulfnews

Nakilat reports $118.9m Q1 net profit, up 3.2%

30/04/2025

Qatar Gas Transport Company (Nakilat) achieved a net profit of QAR433 million ($118.92 million) for the first quarter of 2025, ended March 31, marking a 3.2% increase from QAR420 million recorded in

Trade Arabia

Aldar Properties profit before tax jumps 33% to $599m

30/04/2025

Aldar Properties has reported a 33% year-on-year increase in profit before tax to AED2.2 billion ($599 million) for the first quarter of 2025, with net profit after tax rising by 22% year-on-year to

Trade Arabia