Energy

A new joint venture, backed by the Ministry of Energy, has been launched in Saudi Arabia to boost local manufacturing in the conventional power sector. The partnership includes Dalian Insulators Group, Power Union Company (a subsidiary of Al-Ojaimi Industrial Group), and GREENGRID Company. The agreement was signed in Riyadh as part of the Ministry’s Nuwat’in program, which seeks to build...

Hyliion Holdings Corp. and Alkhorayef Industries Company have signed a strategic memorandum of understanding (MOU) during the Saudi–U.S. Investment Forum in Riyadh, marking a significant step toward advancing energy solutions in Saudi Arabia. According to Business Wire, the agreement outlines a potential $1 billion business opportunity focused on deploying Hyliion’s KARNO Power Modules in the Kingdom. This partnership was announced...

ACWA Power, a global leader in renewables and water desalination, has signed new agreements with major US companies valued at $500 million, according to the EI News Network. These deals, announced during the Saudi–US Investment Forum in Riyadh alongside the official visit of US President Donald Trump, increase ACWA Power’s total partnerships with American firms to over $6 billion. The...

China Energy has launched the Shuaibah Solar Power Plant in Jeddah, establishing it as the Middle East’s largest solar facility with a capacity of 2.6 GW, according to China Energy. The plant is designed to generate over 282 billion kilowatt-hours of electricity during its projected 35-year lifespan, utilizing advanced photovoltaic technology and automated systems. This project is a significant step...

ACWA Power, a Saudi company specializing in power generation, water desalination, and green hydrogen, has entered into multiple clean energy agreements with U.S. firms valued at $500 million, according to company disclosures. The company has partnered with Baker Hughes to advance green hydrogen production, focusing on electrolysis technology and improved safety and efficiency. This collaboration may also lead to local...

The United States and the Kingdom of Saudi Arabia have agreed to collaborate on civil nuclear energy, following the signing of an energy cooperation and critical minerals agreement in Riyadh, according to the US Department of Energy. Discussions are ongoing with countries working toward the signing of the important 123 agreement, which is essential for nuclear cooperation. His Excellency Prince...

A team from the College of Architecture and Planning at Imam Abdulrahman Bin Faisal University has suggested that Saudi Arabia should transition from lead-acid to lithium-ion batteries. Their recommendation, published in the journal Energies, targets the country's growing renewable energy sector, particularly in residential solar energy. Saudi Arabia aims to cut its oil dependence by 50% by 2030, according to...

Saudi Arabia’s solar energy market is undergoing rapid expansion, with its value expected to rise from USD 2.5 billion in 2024 to USD 7.72 billion by 2030, according to Research and Markets. This growth, marked by a projected annual increase of 20.5%, is fueled by the Kingdom’s Vision 2030 strategy, which aims to diversify energy sources and reduce reliance on...

Saudi Arabia’s green technology sustainability market is experiencing rapid expansion, with its value expected to rise from $5.3 billion in 2024 to $12.83 billion by 2030, reflecting a compound annual growth rate of 15.7%, according to ResearchAndMarkets.com. The sector’s growth is fueled by government initiatives such as Vision 2030 and the Saudi Green Initiative, which focus on reducing reliance on...

The King Abdullah Petroleum Studies and Research Center (KAPSARC) and the Delegation of the European Union (EU) to the Kingdom of Saudi Arabia recently held a high-level workshop in Riyadh focused on advancing EU-Saudi energy cooperation. The gathering brought together senior business leaders, officials, and energy specialists from both regions to address critical issues such as energy security, robust supply...