A delegation of US and Chinese businesses is scheduled to visit Saudi Arabia on Monday, in an effort to establish a multinational alliance or league headquartered in Riyadh.
The primary objective of this alliance is to channel investments into cutting-edge technologies that promote a sustainable green economy and facilitate the achievement of carbon neutrality.
Neil Bush, who is leading the delegation, has expressed dedication to establishing a worldwide alliance in Riyadh that will play a pivotal role in shaping the bright prospects of green energy.
The primary objective of this alliance is to emerge as a prominent driving force behind investments in advanced technologies, specifically aimed at fostering a sustainable green economy.
Bush added that the delegation’s visit to Saudi Arabia is exploratory in nature, and they have a proposal aimed at developing the “Skytower Zero Carbon Industrial Park.”
Moreover, the delegation is prepared to respond to specific projects related to renewable energy, hydrogen, and ammonia in Saudi Arabia.
Continuing his remarks, Bush said that the delegation’s strategy is fundamentally global, merging top-notch technologies and services from both the US and China. Additionally, it aims to draw capital investments of a magnitude like those made by Saudi funds to execute the proposed projects.
According to Bush, the delegation comprises organizations within the Zero Carbon alliance, whose objectives align with Saudi Vision 2030 and the 2060 Net Zero initiative.
He highlighted that the focus is currently directed towards investing in renewable energy sector infrastructure and manufacturing.
The alliance the delegation is seeking to form includes Atlas Renewable, a company led by Bush.
It also includes Energy Vault, a US-based renewable energy company specializing in the design, installation, and management of storage solutions.
Additionally, CNTY, a Chinese company active in renewable energy storage, and EIPC, a Chinese quasi-governmental organization, are set to be part of the alliance.
Bush stated that the Zero Carbon industrial park will rely on green energy sources, combining renewable energy generation with effective short- and long-term storage.
He elaborated that the consortium, known as the alliance, will attract renewable companies specializing in wind energy, solar energy, and storage technologies.
These companies will be encouraged to establish manufacturing facilities within the industrial park, thereby creating a substantial number of job openings in the region.
Bush added that global cooperation is essential in combating climate change, and it is exemplified by the approach of the alliance, which has been successfully implemented in China and Mongolia.
This approach involves bringing together the best expertise to design integrated systems that enhance the effectiveness of renewable solutions, with storage playing a crucial role in the mix.
Bush affirmed that the alliance holds the knowledge and expertise required to attain optimal operational efficiency for renewable systems
Bush also praised the current transformation taking place in Saudi Arabia, considering it a true and sustainable renaissance.
He explained that the significant changes occurring in the Kingdom, along with the growing number of diverse global corporate relationships being established, will undoubtedly operate according to global strategies, and connect nations worldwide, as Saudi Arabia emerges as a global hub.
Bush elaborated on the alliance’s perspective, emphasizing Saudi Arabia as the central hub for the entire Middle East.
He noted that a key objective of the alliance is to attract substantial investments and leverage cutting-edge technologies from the US and China to carry out crucial projects in Saudi Arabia, in line with its ambitious carbon-neutral objectives.
Furthermore, he highlighted that manufacturing companies will be attracted to establishing operations in the Kingdom to manufacture equipment that caters to domestic demands and could be exported to the broader region.