Saudi Arabia's Solar Surge: New International Alliances for Renewable Energy

Saudi Arabia has forged agreements with international partners for solar energy projects at the Saudi-French Investment Forum in Riyadh. Collaborations include deals with TotalEnergies and Al Jumeih Energy for the Rabigh 2 plant, and EDF and SPIC for Al Masa’a. Waste management initiatives were also discussed.

In a significant move to bolster its renewable energy portfolio, Saudi Arabia secured agreements with international partners during the Saudi-French Investment Forum in Riyadh. The event, attended by French President Emmanuel Macron, marked the signing of an agreement with French oil giant TotalEnergies and Al Jumeih Energy and Water for the development of the Rabigh 2 solar power plant.

Additionally, Saudi Arabia's Al Masa'a solar power plant project saw a power purchase agreement signed between the Saudi Power Procurement Company, EDF, a French state-owned utility, and China's State Power Investment Corporation. A concurrent agreement involved all three parties for the Al Hnakia 2 solar power plant.

The forum also included discussions on waste management initiatives, highlighted by an agreement involving Saudi's Public Investment Fund, its subsidiary SIRC, and Veolia. These engagements reflect Saudi Arabia's strategic push towards sustainable development. However, the financial specifics of these agreements were not revealed.

(With inputs from agencies.)