Saudi Arabia’s Public Investment Fund (PIF) has announced the creation of a new subsidiary, the Energy Solutions Company, which will invest around $10 billion in green hydrogen production. This initiative is part of a broader strategy to foster the development of low-carbon fuels.
The Energy Solutions Company aims to capitalize on the growing demand for hydrogen, supported by a robust project pipeline. Some investments will be made in collaboration with Saudi Aramco, with the official launch of the company expected soon.
In line with Saudi Arabia’s transition strategy, Investment Minister Khalid Al Falih announced upcoming hydrogen projects under the PIF. Earlier this year, Acwa Power disclosed plans to fund the $8.5 billion Neom Green Hydrogen Project, a critical step in Saudi Arabia’s ambition to lead globally in hydrogen production.
