Dubai: Saudi Arabia’s Public Investment Fund (PIF) launches a new entity aimed at investing approximately $10 billion (Dh36.7 billion) in green hydrogen production. The new subsidiary, called Energy Solutions Company, will concentrate on financing the development of low-carbon fuels, as reported by Bloomberg.
This investment is expected to expand in the coming years due to rising demand for hydrogen and a strong project pipeline. Some of the funding will be in partnership with Saudi Aramco. The official launch of Energy Solutions Company is anticipated later this month.
In June, Saudi Arabia’s minister of investment, Khalid Al Falih, indicated that a series of hydrogen projects would be announced under PIF as part of the country’s broader transition strategy. In March, Acwa Power, a publicly listed company in Saudi Arabia, revealed plans to finance the $8.5 billion (Dh31 billion) Neom Green Hydrogen Project through a combination of long-term debt and equity, an essential part of Saudi Arabia’s goal to become a global leader in hydrogen production.
By Joseph Maliakan Three terrible things that were inflicted especially on the poor and marginalized people…
Mr. Sajith Kumar P K : Along with Mr. Sajith Kumar, four other prominent leaders…
Sajith Kumar P.K : The Budget is touched to the Structural Reforms especially in Maritime…
By Joseph Maliakan The Institute of Liver and Biliary Sciences (ILBS) is a mono-super specialty…
By Joseph Maliakan In a judgment that will have far-reaching consequences for the protection of…
By Joseph Maliakan Education according to the Indian Constitution, is in the concurrent list and…
This website uses cookies.