Riyadh – Sharikat Mubasher: Alfanar Projects announced the signing of strategic contracts with the Saudi Electricity Company, with a value exceeding SR20 billion in a landmark stride to enhance and localize Saudi Arabia's energy sector.

These agreements were signed during Alfanar Projects' participation in the Energy Localization Forum, organized by the Ministry of Energy, according to The Saudi Gazette.

The signing ceremony was attended by Prince Abdulaziz bin Salman, Minister of Energy; Hamad bin Mohammed Al Sheikh, Minister of State; and Bandar bin Ibrahim Al Khorayef, Minister of Industry and Mineral Resources.

Aligned with Saudi Vision 2030, these contracts are aimed at bolstering sustainable infrastructure, promoting energy self-sufficiency, and solidifying Saudi Arabia's position as a regional energy leader.

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 collaboration with China Electric Power Equipment and Technology Co. This project will facilitate high-capacity power transmission between the Central, Western, and Southern regions, with a total capacity of 7 G.W.

Additional projects encompass Battery Energy Storage Systems, the establishment of Smart Distribution Centers in the Western and Southern regions, and the integration of renewable energy facilities into the national grid; all driving grid reliability and aiding the Kingdom's shift to clean and renewable energy.

On this occasion, Amer Al Ajmi, Executive Vice President of Sales and Marketing at Alfanar Projects, stated: "The signing of these contracts underscores our unwavering commitment to advancing Saudi Arabia's energy sector in alignment with the Kingdom's Vision 2030. The confidence placed in us by the Ministry of Energy, through its representative, Saudi Electricity Company, affirms our commitment to deliver and execute transformative projects of this scale.”