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Head of the energy sector for NEOM

Peter Terium


Peter Terium serves as the head of the energy sector for NEOM, one of Saudi Arabia’s gigaprojects to realise Vision 2030. Peter has set an ambitious agenda to make NEOM the world’s most advanced renewable energy hub and first at-scale fully renewable energy system.

A Dutch top executive with over 15 years of industry experience, Peter’s career embodies the transition within the energy sector. From 2009 to 2011, he served as CEO of Essent, the leading Dutch energy utility before taking over the helm of its parent company, RWE AG, from 2012 to 2016. As the CEO of RWE, he moved its business model away from capital intensive energy generation by creating a new company, innogy SE, operating in the uncharted world of energy management. He then served as CEO of innogy SE until 2017.

Peter lives and works in Riyadh, Saudi Arabia, but plans to relocate to NEOM once ready for move-in.


The Company

Neom

Neom is a Saudi project for a smart and tourist cross-border city. The project is located in the far north-west of Saudi Arabia. It will be constructed in Tabuk. It includes marine land located within the Egyptian and Jordanian borders. It will cover a total area of 26,500 km2 (10,200 sq mi) and will extend 460 km along the coast of the Red Sea.

The city was announced by Saudi Crown Prince Mohammad bin Salman at the Future Investment Initiative conference in Riyadh, Saudi Arabia on October 24, 2017. He said it will operate independently from the “existing governmental framework” with its own tax and labor laws and an “autonomous judicial system”.

The initiative emerged from Saudi Vision 2030, a plan that seeks to reduce Saudi Arabia’s dependence on oil, diversify its economy, and develop public service sectors. The German Klaus Kleinfeld, former chairman and CEO of Alcoa Inc., and former president and CEO of Siemens AG, will direct the development of the city. Plans call for robots to perform functions such as security, logistics, home delivery, and care giving and for the city to be powered solely with wind and solar power. Because the city will be designed and constructed from scratch, other innovations in infrastructure and mobility have been suggested. Planning and construction will be initiated with $500 billion from the Public Investment Fund of Saudi Arabia and international investors. The first phase of the project is scheduled for completion by 2025.



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