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Advanced Electronics Co. (AEC); Enel; and ICT Europe, a merchant co-development bank, have signed a memorandum of understanding (MOU) aimed at smart grid development within the Saudi Arabia Kingdom and the Gulf Cooperation Countries, namely Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain and Oman.

AEC says this MOU will help the company increase its technical footprint in the regional power distribution companies while enabling them to benefit from Enel's industrial experience in the energy sector.

“It is an important step in the context of expanding our value chain across the region. By joining forces with ICT Europe and Enel, we will significantly advance our smart grid solutions,” says Ghassan Al-Shibl, president and CEO of AEC.





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