France and Saudi Arabia Forge Solar Energy Partnership

French companies TotalEnergies and EDF Renewables are set to build solar parks in Saudi Arabia, totaling 1.7 GW, as part of a new renewable energy deal. The partnership is part of Saudi Arabia's commitment to renewable energy expansion, with aims to reach 130 GW by 2030.

TotalEnergies and EDF Renewables announced on Tuesday significant projects to enhance solar energy capacity in Saudi Arabia. French President Emmanuel Macron's visit to Riyadh marked the beginning of new ventures, with TotalEnergies committing to a 0.3 GW solar park and EDF to two parks totaling 1.4 GW.

The agreements include 25-year power purchase deals with the Saudi Power Procurement Company, emphasizing Saudi Arabia's strategic focus on bolstering its renewable energy capacity. The kingdom aims for 130 GW of renewable energy by 2030, with 6.2 GW already operational.

The involvement of partners such as the Chinese State Power Investment Corporation and local Saudi companies underscores an international collaborative approach. Notably, Saudi Arabia's latest renewable round anticipates over 8 billion riyals in investment.

(With inputs from agencies.)