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SONATRACH, Algeria’s state-owned oil and gas company, and Hecate Global Renewables Energy (HGR Energy), an American firm specializing in renewable energy projects, joined forces today by signing a Memorandum of Understanding (MoU) at SONATRACH’s Headquarters. The ceremony was attended by Mr. Rachid Hachichi, Chairman and Chief Executive Officer of SONATRACH, and Mr. David Wilhelm, Chief Executive Officer of HGR Energy.
The MoU signifies a strategic partnership between SONATRACH and HGR Energy to explore opportunities for renewable energy projects in Algeria. In its initial phase, the agreement will facilitate a joint feasibility study to assess the feasibility of implementing renewable energy projects in the country.
Following this initial phase, the collaboration will proceed to evaluate the potential for utilizing renewable energy in green hydrogen production projects, marking a significant step towards advancing sustainable energy solutions in Algeria.
HGR Energy brings extensive expertise as a leading developer, owner, and operator of renewable energy projects and storage solutions, with a strong presence in North America and other international markets.
The signing of this MoU aligns with Algeria’s national strategy for the development of renewable energies, in which SONATRACH plays a pivotal role. Through this partnership, SONATRACH aims to address the energy needs of its Oil & Gas facilities while simultaneously reducing hydrocarbon consumption and greenhouse gas emissions in a responsible and sustainable manner.
This collaboration underscores SONATRACH’s commitment to embracing renewable energy solutions and contributing to the country’s transition towards a greener and more sustainable energy future. |
