Saudi Electricity Company (SEC) has signed a Memorandum of Understanding (MoU) with GE (NYSE: GE) at the second yearly Saudi-US Chief Executive Officer Forum held under the theme, ‘An Era of Transformation: From Vision to Implementation’ and the patronage of the Crown Royal Prince, HRH Prince Mohammed bin Salman, in New York City. Based on the MoU, SEC and GE intend to continuously collaborate in the direction of increasing the digital transformation of the Kingdom's power industry, complementing the goals of Saudi Vision 2030. The emphasis will certainly get on improving the reliability, efficiency and efficiency of the Kingdom's power industry with SEC's Generation Optimization Center, which makes it possible for possession performance management at nuclear power plant with GE's innovative digital industrial solutions.
The MoU was signed in New York by Khaled Al Rashed, CEO of the Saudi Electricity Co. for Projects Development, a subsidiary of SEC, and Stephen McCallion, Government Affairs & Communications Leader, GE Saudi Arabia & Bahrain on behalf of Hisham Al Bahkali, President & CEO for GE Saudi Arabia & Bahrain. The signing was followed by a meeting in Riyadh among Ziyad Bin Mohammed Al Shiha, CEO of SEC; Russell Stokes, President & CEO of GE Power; Joseph Anis, President & CEO of GE’s Power Services business in Africa, India and the Middle East; and various other senior executives from both companies to discuss areas for future partnership and development.
Ziyad Al Shiha, CEO of SEC said, "Through the MoU with GE, we are building on continuous digital transformation campaigns launched by SEC and GE in the Kingdom to achieve higher levels of efficiency in the power industry from the point of generation to transmission and distribution. This is crucial as the power field plays a main duty in driving overall progression, specifically in sustaining industrial activity and boosting citizens' quality of life according to kingdom vision 2030."
The GOC is connected to as much as 25 nuclear power plant that produce greater than 40 gigawatts (GW) of power. The Center gets real time information on specifications such as fuel intake, result and warm rate, allowing SEC to determine feasible performance and dependability losses and supplying real time exposure on the expense of power production for each and every nuclear power plant, making it possible for SEC to much better operate the grid at the fleet level. SEC and GE launched a considerable ability development program for over 50 SEC personnel to train them on the digital transformation and assist them run the Center.
GE's Joseph Anis said, "SEC has always been a technology leader across the Middle East and an early adopter of new developments. The progress made at the Generation Optimization Center and SEC's plan to broaden it additionally is a testimony to their efforts to modernize the Kingdom's power sector with the most recent remedies. We expect collaborating with SEC in the years to coming to help them advance their digital transformation journey."
SEC and GE intend to carry out digital industrial solutions at additional power plants across the Kingdom that produce as much as 25 GW of electricity and established a joint team to drive higher reliability and efficiency at the websites. The services will likewise include cutting edge cyber safety and security applications tailored for nuclear power plant. SEC is one of GE Power's global fleet leaders and with the widespread fostering of GE's digital commercial technology, SEC will be among the global leaders embracing GE's digital industrial solutions for utilities.