Alfanar Projects Signs Strategic Contracts Worth SR20 Billion with Saudi Electricity Company
In a groundbreaking step towards revolutionizing Saudi Arabia’s energy sector, Alfanar Projects has officially sealed strategic contracts with the Saudi Electricity Company, totaling over SR20 billion.
These significant agreements were inked during Alfanar Projects’ active participation in the Energy Localization Forum, a prestigious event organized by the Ministry of Energy. The signing ceremony was graced by the presence of esteemed figures such as Prince Abdulaziz bin Salman, Minister of Energy; Dr. Hamad bin Mohammed Al Sheikh, Minister of State; and Bandar bin Ibrahim Al Khorayef, Minister of Industry and Mineral Resources.
Aligned with the ambitious Saudi Vision 2030, these contracts are geared towards enhancing sustainable infrastructure, fostering energy self-sufficiency, and cementing Saudi Arabia’s dominance as a key player in the regional energy landscape.
The projects outlined in these agreements include the development of the largest High-Voltage Direct Current (HVDC) Converter Station project in the Middle East and North Africa, in partnership with China Electric Power Equipment and Technology Co. This groundbreaking project will enable high-capacity power transmission between the Central, Western, and Southern regions, boasting a total capacity of 7 G.W.
Other initiatives covered in the contracts encompass Battery Energy Storage Systems, the establishment of Smart Distribution Centers in the Western and Southern regions, and the seamless integration of renewable energy facilities into the national grid; all of which aim to enhance grid reliability and support the Kingdom’s transition towards cleaner, renewable energy sources.
Key representatives including Eng. Khaled Al Ghamdi, CEO of the Saudi Electricity Company, and Eng. Sabah Al Mutlaq, Vice Chairman of Alfanar Company and Managing Director of Alfanar Projects, were present during the signing ceremony, signifying the mutual commitment of both organizations.
Expressing his views on the occasion, Eng. Amer Al Ajmi, Executive Vice President of Sales and Marketing at Alfanar Projects, emphasized, “The signing of these contracts underscores our steadfast dedication to advancing Saudi Arabia’s energy sector in alignment with the Kingdom’s Vision 2030. The trust bestowed upon us by the Ministry of Energy, through its representative, Saudi Electricity Company, reaffirms our pledge to deliver and execute transformative projects of this magnitude.”
At Alfanar Projects, we leverage our extensive resources, technical prowess, and a highly skilled national workforce to construct a sustainable energy infrastructure that bolsters the Kingdom’s self-sufficiency objectives and reinforces its stature as a frontrunner in renewable energy initiatives.
