Energetica India Magazine January-February 2021

Peter Terium Head of Energy, Water and Food at NEOM NEOM will offer investors and entrepreneurs alike an attractive environment for business and investment, all supported by a progressive law compatible with international norms and conducive to economic growth. THE LINE, in turn, will power NEOM as it becomes a hub for innovation where global business and emerging players can research, incubate and commercialize ground-breaking technologies to accelerate human progress, shares Peter Terium , Head of Energy, Water and Food at NEOM – home of Saudi Arabia’s most am- bitious future smart city completely based on clean energy, in an exclusive conversation with Manu Tayal , Associate Editor, Energetica India. Terium previously headed German energy companies Innogy and RWE as CEO. 14 energetica INDIA- Jan-Feb_2021 What is ‘NEOM’, its meaning and the vision behind its for- mation? Peter Terium : NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses, and reinventing environmental conservation. NEOM will be the home and workplace to more than a mil- lion residents from around the world. It will include commu- nities, ports and enterprise zones, research centres, sports and entertainment venues, and tourist destinations. It is a centrepiece of Saudi Vision 2030 and will be an engine of economic growth for Saudi Arabia; it will drive diversifica- tion and aims to contribute 380,000 jobs of the future and USD 48 billion to domestic GDP by 2030. Shed some light on ‘The Line’ project’s speciality, along with its connectivity with rest of the world? Peter Terium : THE LINE is an urban living revolution and a response to the challenges faced by contemporary cities today, from ageing infrastructure to pollution growth. A 170km-belt of hyper-connected communities built from the ground up, guided by principles of sustainability, THE LINE will weave nature into urban environments, putting people’s health and wellbeing at the centre of all devel- opment. It will be free of cars and streets and built around nature, enhancing livability and placing people within a five-min- ute walk of every daily need such as schools, medical clin- ics, leisure facilities and green spaces. This human-centric approach represents the first time modern cities have been designed for people, rather than cars. THE LINE will rely entirely on clean energy, with zero carbon emissions and zero environmental, noise, or visual pollu- tion. What will be the estimated investment amount required for the ‘The Line’ city? How its funding has been planned? What perks Saudi government will offer to foreign inves- tors? Peter Terium : NEOM will attract private as well as public investments and partnerships. It will be backed by more than $500 billion by the Kingdom of Saudi Arabia, the Sau- “Working with India, its government, its companies and its people is very attrac- tive to us at NEOM and in Saudi Arabia more widely, and there are many areas for fruitful collaboration.” INTERVIEW