Energy

Saudi Arabia is set to enhance its solar energy capabilities through a significant investment by Desert Technologies. In collaboration with Modon, the company plans to establish a major solar panel and cell manufacturing complex in Jeddah. Desert Technologies will invest SAR 750 million to create this facility, which will be the largest of its kind in Saudi Arabia. The plant,...

AFC Energy, a leader in hydrogen power generation, has partnered with The Machinery Group LLC (TAMGO) to introduce its first 45kVA H-Power System in Saudi Arabia. This agreement marks a significant step in advancing zero-emission technologies in the region. The 45kVA H-Power System features AFC Energy’s latest S Series 30kW fuel cell generator, a 45kWh battery energy storage system, and...

Saudi Arabia's investment scene is witnessing significant developments as Hassana Investment Company forms major partnerships with EIG and Brookfield Asset Management. These collaborations emphasize commitments to energy transition and private equity investments in the region. Hassana, managing over $320 billion as the investment arm of Saudi Arabia's General Organization for Social Insurance, is considering a notable investment of up to...

Finland and Saudi Arabia have signed a memorandum of understanding (MoU) in Riyadh to foster collaboration in the energy sector, according to Finland's Ministry of Economic Affairs and Employment. This agreement seeks to boost technical and economic cooperation and improve the entry of Finnish companies into the Saudi market. The MoU was signed by Jarno Syrjälä from Finland on behalf...

Saudi Arabia's energy minister, Abdul Aziz Bin Salman, announced the country's position as the leading producer of green and clean hydrogen at the Future Investment Initiative in Riyadh. The event emphasized Saudi Arabia's readiness to export this energy worldwide. Salman highlighted the nation's efforts to export various energy forms, utilizing the circular carbon economy. The goals include enhancing economic diversity,...

A Saudi Arabian solar company, Desert Technologies, is planning a significant expansion in solar panel and cell production to help meet the country's ambitious renewable energy goals. The company announced plans to construct a $200 million factory in Jeddah, capable of producing up to 5 gigawatts of solar capacity annually. This new facility marks a substantial increase from its current...

Saudi Arabia is taking a significant step in renewable energy by starting to manufacture steel towers for wind energy systems. This development follows the signing of two key agreements by the Local Content and Government Procurement Authority (LCGPA). The agreements involve partnerships with Al Yamamah Steel Industries Co. and Arabian International Co. for Steel Structures. These collaborations aim to localize...

Korea Electric Power Corporation (KEPCO) is poised to make a significant entry into the Middle Eastern renewable energy market. It has been selected as the final candidate for three major solar projects under Saudi Arabia's 5th National Renewable Energy Program (NREP), announced by the Saudi Power Procurement Company (SPPC). The projects include Al-Sadowi (2,000 MW), Al-Henakiya 2 (400 MW), and...

Saudi Arabia has emerged as the largest producer of green hydrogen and is prepared to export it worldwide. At the Future Investment Initiative (FII) 2024 in Riyadh, Energy Minister Prince Abdulaziz bin Salman highlighted the Kingdom's commitment to economic diversification and job creation. Prince Abdulaziz emphasized Saudi Arabia's achievements over the past six years, underscoring the nation's determination to overcome...

TASARU, a key subsidiary of Saudi Arabia's Public Investment Fund, has made a strategic investment in Blacklane, a global leader in premium chauffeur services. This move supports Saudi Arabia’s Vision 2030 and aims to boost sustainable mobility in the region. EV Fleet Introduction Established in 2011 in Germany, Blacklane is renowned for its innovative chauffeur services that connect travelers with...