Saudi Arabia is making significant strides towards its ambitious goal of generating 50% of its energy from renewable sources [1] by 2030. This initiative is a key component of the Kingdom’s Vision 2030, which aims to diversify the economy and reduce its dependence on oil. The Saudi Green Initiative, launched by Crown Prince Mohammed bin […]
The Gulf Cooperation Council (GCC) region is witnessing a surge in electricity investment, driven by ambitious renewable energy targets, according to a recent report by Fitch Ratings [1]. The report highlights that the growth in investment is primarily supported by the GCC’s commitment to increasing the share of renewable energy and improving the efficiency of […]
Al Yamamah Steel Industries Company has agreed with the South Korean branch of Hyundai Engineering & Construction to supply steel towers for a 380 kV ultra-high voltage transmission line project in Saudi Arabia’s western region. In a statement to the Saudi Stock Exchange on Tuesday, the company announced that the contract is valued at 174.91 […]
TrinaTracker, a global leader in smart solar tracking solutions and a subsidiary of Trinasolar Co. Ltd, has announced the opening of a new manufacturing facility [1] in Saudi Arabia. The factory, named Trina Tracker for Renewable Energy, is set to begin operations in the first quarter of 2025 and will have an annual production capacity […]
Chinese batteries and electric vehicles, BYD Energy Storage has officially signed contracts [1] with the Saudi Electricity Company (SEC) to deliver a massive 12.5 gigawatt-hours (GWh) of battery energy storage systems (BESS) across five sites in Saudi Arabia. This deal marks the world’s largest grid-scale storage deployment to date. The project supports Saudi Arabia’s Vision […]
ACWA Power, a Saudi Arabia based leading developer of power and water solutions, has signed several key agreements [1] with Saudi Aramco to drive renewable energy and innovation in Saudi Arabia. These agreements were announced during ACWA Power’s flagship Innovation Days 2025 event in Riyadh. The partnerships focus on advancing renewable energy deployment and green […]
Saudi Arabia’s aid agency King Salman Humanitarian Aid and Relief Center (KSrelief), in collaboration with the United Nations Development Programme (UNDP), has launched a new project in Aden, Yemen.[1] The program aims in empowering Yemeni women through renewable energy, by providing them with tools to generate income and strengthen their role in society. The initiative […]
The company is to set up the pellet and DRI plants India’s Larsen & Toubro (L&T) said its minerals & metals (M&M) business vertical had received an order to set up a pellet plant and a direct reduction of iron (DRI) plant in the Middle East & North Africa (MENA) region. The GCC order is a […]
The Middle East and North Africa (MENA) region is projected to attract over $1 trillion [1]in renewable energy investments by 2030, according to Mark Thomas, Group CEO of Bapco Energies. This announcement was made during the third edition of the Sustainability Forum Middle East, held in Bahrain. The forum, which drew over 400 regional and international decision-makers, […]
Vale, a global leader in sustainable mining, has reported to take a major step toward green steel production by signing a land reservation agreement with the Royal Commission of Jubail and Yanbu in Saudi Arabia. The agreement paves the way for the development of a Mega Hub at Ras Al-Khair Industrial City, marking a strategic […]
Saudi Arabia’s ACWA Power has made a significant move into China’s renewable energy market with two major agreements worth $312 million [1]. These agreements mark a substantial step in ACWA Power’s global expansion strategy and highlight its commitment to supporting China’s clean energy transition. The first agreement involves a 132-megawatt solar photovoltaic (PV) portfolio in […]
Saudi Arabia’s ACWA Power has successfully secured $703 million [1] (SR2.63 billion) in financing to develop, operate, and maintain a 1,100-megawatt wind power plant in Egypt’s Suez governorate. The funding was sourced from a consortium of international financial institutions, including the European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB), British International Investment, […]
The United Nations Convention to Combat Desertification (UNCCD) launched a new publication, “Fashion and Land” [1], at COP16 in Saudi Arabia. The report explores the significant impact of the fashion industry on land use, soil health, and degradation through its fiber choices and production practices. The UNCCD’s report underscores the profound impact of the fashion industry on […]
Saudi Arabian online cosmetics retailer Nice One Beauty has announced plans for an initial public offering (IPO) [1] aiming to raise up to 1.21 billion riyals ($322 million). The company will offer a 30% stake at 32 riyals to 35 riyals per share, valuing the firm at 4 billion riyals at the top end of […]
During the Future Investment Initiative conference held in Riyadh from October 29 to 31, Saudi Arabia’s Energy Minister, Abdul Aziz Bin Salman, announced the country’s position as the leading producer of green and clean hydrogen, ready to export it globally. Salman emphasized the nation’s strategy to diversify its economy, enhance value, ensure supply chain flexibility, […]
Saudi Arabia– Neom is a mega flagship economic zone located in the far Northwest of Saudi Arabia. According to the official statements by the London headquartered news agency Arabian Gulf Business Insight on Monday, Neom is to consume one-fifth of the world’s steel production. Manar Al Moneef, Neom’s Chief Investment Officer, shared insights at the […]
