Yemen’s General Corporation for Electricity and Iceland’s Reykjavik Energy Invest company signed a new agreement on Sunday, according to reports by Saba, Yemen’s news agency. The document signals a new agreement on electricity generation between the two countries.
The agreement details a plan for REI to lead a study into the geothermal potential at Lesi Mountain in the Dhamar region of Yemen. If the potential for a geothermal project is there, REI will initiate drilling works in the location.
According to the document, REI will invest in the first geothermal station after the study is finalised, which is expected to occur by the end of August this year.
Yemen’s Minister of Electricity and Energy Mustafa Bahran and Ossur Skarphédinsson, his Icelandic counterpart met following the signing of the agreement to discuss how the two countries could cooperate in energy-related issues.
Like Iceland, Yemen is increasingly using renewable sources of energy such as geothermal energy, wind power and solar power. Iceland’s minister expressed his willingness to assist Yemen in the expansion of their renewable energy sources.
Iceland is considered the foremost expert in geothermal operations and is the country with the most electricity generated from renewable resources.
Abdul-Muti al- Juneid, the chairman of GCE and Gudmundur Sigurjonsson, the CEO of REI signed the document.