Energy

The Saudi sovereign wealth fund has recently engaged in substantial agreements within the renewable energy sector, specifically targeting wind and solar projects. Despite these strides, specialists suggest that the primary motivation for these deals may not be the reduction of greenhouse gas emissions, as is commonly perceived in green initiatives.An official ceremony to mark the signing was graced by the...

The Public Investment Fund (PIF) of Saudi Arabia has declared the establishment of three collaboration agreements with Chinese entities through its wholly-owned Renewable Energy Localisation Company (RELC). These agreements aim to advance the local production of solar and wind energy equipment within the nation. RELC has partnered with Vision Industries, a prominent Saudi firm specializing in the development of clean...

The sovereign wealth fund of Saudi Arabia, the Public Investment Fund (PIF), has announced a significant move in fostering the nation's renewable energy production capabilities through a series of strategic partnerships. A collaboration involving the globe's second-ranked producer of solar cell components will lead to the establishment of a $2.8 billion energy manufacturing plant within Saudi borders.An official statement from...

Envision Energy has recently announced the creation of a joint venture (JV) focused on the fabrication and assembly of wind energy components, such as blades, nacelles, and hubs, specifically targeting the burgeoning Middle Eastern market. The alliance includes heavyweight partners such as the Public Investment Fund (PIF) of Saudi Arabia and Vision Industries. The union is aimed at propelling the...

JinkoSolar has announced a strategic collaboration to establish a state-of-the-art facility dedicated to the production of solar cells and modules in Saudi Arabia. The joint venture is poised to invest a substantial sum of $1 billion into this ambitious project.Ownership of the venture will be distributed among JinkoSolar Middle East, holding a 40 percent stake, Renewable Energy Localization, a subsidiary...

Envision Energy, a prominent Chinese turbine manufacturer, has established a strategic joint venture (JV) with the Public Investment Fund (PIF) of Saudi Arabia.This new business collaboration will concentrate on the production and assembly of essential wind turbine components, including blades, nacelles, and hubs.In this JV, Envision Energy retains majority ownership, with the PIF and Vision Industries owning the remaining shares.The...

In a significant move for the solar sector, JinkoSolar, a leading producer in the industry, has announced its plans to establish a state-of-the-art 10GW n-type solar cell and module manufacturing facility in Saudi Arabia. This ambitious project is the result of a joint venture forged between JinkoSolar Middle East, the Renewable Energy Localization Company (RELC) – an arm of the...

JinkoSolar, a solar panel manufacturer based in China, has announced its plans to establish a joint venture with Saudi Arabia's sovereign wealth fund and a local renewable energy company. This partnership aims to construct a solar cell and module production facility in the Kingdom.The venture is slated to attract an investment of approximately $1 billion, which will be sourced from...

Marking a significant leap in solar production capacity, JinkoSolar Holding Co Ltd is setting the stage for a substantial new manufacturing hub. The renowned Chinese solar module producer has unveiled plans to establish a 10-GW solar cell and module factory in Saudi Arabia through a joint venture.As part of this strategic move, JinkoSolar Middle East DMCC—an indirectly majority-owned subsidiary of...

Sungrow Power Supply, a company traded on the Shenzhen stock exchange, has announced plans to establish the largest battery energy storage project globally in Saudi Arabia. This venture will result in a significant 7.8-gigawatt-hour (GWh) battery energy storage system (BESS) spread across three different locations: Nairan, Madava, and Khamis Mushait.The initial phase involving equipment delivery is set to commence within...