Energy

The Saudi Power Procurement Company, the kingdom's principal energy purchaser, recently concluded agreements for three new photovoltaic solar energy ventures. In an event attended by Prince Abdulaziz bin Salman, the Minister of Energy, the signings were conducted in collaboration with ACWA Power, Badeel - owned by the Public Investment Fund, and Aramco Energy, a subsidiary of Saudi Aramco.The initiatives, which...

The Kingdom of Saudi Arabia has initiated a groundbreaking geographic survey for its renewable energy projects. The implementation of the project has been awarded to national companies charged with setting up 1,200 stations to assess solar and wind energy across all regions of the kingdom.In a statement marking the project agreements signing, Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz...

The Kingdom of Saudi Arabia has announced the commencement of a monumental geographic survey designed to bolster the development of renewable energy projects across the nation. National companies have been commissioned to implement the project, which involves the installation of 1,200 stations to monitor solar and wind energy in all regions, as a component of the national renewable energy program.In...

Riyadh's Pledge for Industrial Green Energy Transition At a recent leading industry expo in Frankfurt, Eng. Khalil Ibrahim bin Salamah, Saudi Arabia's Deputy Minister of Industry Affairs, emphasized the nation's dedication to spearheading the shift to green energy within its industrial sector. This commitment aligns with the strategic objectives of the Kingdom's Vision 2030, leveraging cutting-edge technology and eco-friendly solutions...

Saudi Arabia's Industrial Sector Targets Green Energy TransitionDeputy Minister of Industry Affairs, Eng. Khalil Ibrahim bin Salamah, recently emphasized Saudi Arabia's commitment to becoming a frontrunner in the transition towards green energy within the industrial sector. This initiative falls under the broad objectives of the Kingdom's Vision 2030. By integrating cutting-edge technologies and eco-friendly solutions, Saudi Arabia is accelerating its...

ACWA Power, a distinguished private entity in the development, investment, and management of power production and water desalination projects, is at the forefront of promoting sustainability in the Middle East. With a whopping 77 projects under its belt across Saudi Arabia, the company is recognized as a significant force in the region's transition towards sustainable energy.The organization boasts an impressive...

The Zakat, Tax, and Customs Authority of Saudi Arabia (ZATCA), in collaboration with the National Center for Privatization and PPP (NCP), has announced the commencement of a tender for the establishment of a hybrid power plant at the Empty Quarter land port. In the initial phase of Request for Qualification, private entities are being invited to explore the opportunity to...

Saudi Arabian renewable energy heavyweight Acwa Power has disclosed its strategy to amass approximately 7.1 billion riyals (USD 1.9 billion) through a rights issue to its current shareholders. This initiative is a core part of the company's ambitious blueprint to expand its assets threefold by the year 2030.

ACWA Power, a leading Saudi utility provider, has announced a significant capital influx of SR7.13 billion ($1.89 billion) to back its ambitious goal of tripling its assets under management by the year 2030. This substantial financial reinforcement is set to be actualized through rights issues, as disclosed in an announcement on the Tadawul stock exchange.The strategic financial move is designed...

Wood, an esteemed name in the realm of consulting and engineering, has achieved a significant milestone by finishing the front-end engineering and design (FEED) phase for the pioneering phase of Aramco's Accelerated Carbon Capture and Sequestration (ACCS) project situated in Saudi Arabia. This initiative is poised to establish the largest carbon capture and sequestration (CCS) hub globally upon its full...