Bid & Tender

News

PIF Signs Deal to Build Wind Turbine Manufacturing Plant in KSA

The Public Investment Fund (PIF) is likely to sign a deal with China’s Envision Energy Company to build a wind turbine manufacturing plant in Saudi Arabia to localize supply chains.

 

The agreement is likely to be signed soon, said people familiar with the matter.

 

Vision Industries, a privately owned renewable-energy manufacturing company, will be part of the agreement.

 

Envision Energy is supplying wind turbines for the $9 billion Neom Green Hydrogen Company, the report said.

 

In May, state-backed Saudi Power Procurement Company (SPCC) signed two power purchase agreements (PPA) with a consortium led by Japan’s Marubeni Corporation to procure power from the 600-megawatt Al Ghat and 500-MW Wa’ad Al shamal wind projects.

 

The Kingdom has more than doubled its renewable energy production capacity from 700 MW in 2022 to over 2.2 GW, with more than 8 GW and 13 GW of renewable energy under development.

BACK

Related News