Saudi Electricity Co to Operate 11 Projects in Southern Regions

Saudi Electricity Co to Operate 11 Projects in Southern Regions
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Saudi Electricity Co to Operate 11 Projects in Southern Regions

Saudi Electricity Co to Operate 11 Projects in Southern Regions

Saudi Electricity Co. revealed a plan to operate a number of electric projects in southern regions during the second half of the current year in order to reinforce the electricity service reliability for users of cities and villages.

The total cost of these projects exceeded SAR1.23 billion.

The company affirmed that operating 11 projects, which include constructing and linking transformer stations and executing overhead lines, would have a prominent impact on supporting the electrical service in these regions, especially that these projects fall under a comprehensive system of other electrical projects underway in these regions in the field of generating electricity and distribution.

The current month would witness operating the first of these projects, which is the project to reinforce Jubail station, stated the company.

It added that the projects include operating Bareq station during August, as well as linking the station to the electrical network, as well as operating Al-Atawilah and reconnecting an overhead line.

Qilwah station will also be linked to a station in the north of Namerah.



Saudi Arabia’s One Planet Summit Charts Pathways for Climate Investment Decisions

Saudi Arabia is hosting the COP 16 in Riyadh. (Asharq Al-Awsat)
Saudi Arabia is hosting the COP 16 in Riyadh. (Asharq Al-Awsat)
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Saudi Arabia’s One Planet Summit Charts Pathways for Climate Investment Decisions

Saudi Arabia is hosting the COP 16 in Riyadh. (Asharq Al-Awsat)
Saudi Arabia is hosting the COP 16 in Riyadh. (Asharq Al-Awsat)

The 7th annual summit of the One Planet Sovereign Wealth Funds Working Group (OPSWF), held in Riyadh on Tuesday, outlined key pathways to enhance climate-aligned investment decisions and improve efficiency and impact within the global financial system.

Discussions focused on climate-relevant data, artificial intelligence, enabling technologies, transformative financing, clean hydrogen, green buildings, and renewable energy in emerging markets and developing economies.

Hosted by Saudi Arabia’s Public Investment Fund (PIF), the summit featured French President Emmanuel Macron, PIF Governor Yasir Al-Rumayyan, and over 100 CEOs, members of the OPSWF, and private equity and asset managers.

The meeting coincided with Saudi Arabia hosting major climate-related events, including the UNCCD COP16 (United Nations Convention to Combat Desertification), the Saudi Green Initiative Forum, and the One Water Summit, all taking place this December.

Discussions at the summit emphasized the vital role of sovereign wealth funds as global investment entities in addressing climate challenges, driving economic transformation, and achieving sustainable development. The participants explored opportunities to scale investments in renewable energy, expand green financing for hard-to-abate sectors, utilize AI for emissions reduction, and advance green building standards.

Yasir Al-Rumayyan highlighted the Saudi sovereign wealth fund’s commitment to integrating climate action into all its investment decisions. He reaffirmed PIF’s pledge to achieve net-zero emissions by 2050, aligning with Saudi Arabia’s broader goals. Renewable energy remains a top priority for PIF’s investment strategy to achieve this target, he emphasized.

He also noted PIF’s efforts to localize renewable energy industries and produce clean hydrogen, with the fund responsible for developing 70% of Saudi Arabia’s renewable energy capacity.

Al-Rumayyan also said that PIF continues to collaborate with the OPSWF to develop a comprehensive and inclusive investment approach to achieving net-zero emissions.