Engie expansion in Saudi Arabia on track
01 February 2021
Engie, a leading low-carbon energy and service solution provider, has kept its expansion in Saudi Arabia on track, building its asset and project value to over $8 billion, with plans to invest in assets worth an additional $6.34 billion in the kingdom by 2025.
In 2019, Engie, expanded its presence in Saudi Arabia by establishing a dedicated holding company to bring all the group’s assets in the kingdom under one umbrella.
Engie appointed Turki Al Shehri as CEO to manage the local office and bring its global experience closer to its customers.
Engie is a major player in the development of Saudi Arabia’s renewable energy, co-generation, energy efficiency and other green initiatives. In the past 12 months, Engie secured nine new contracts for projects in facilities management, a seawater reverse osmosis plant and projects for the provision of energy services through its service providers and in partnership with Saudi players.
In February, Engie was awarded the contract for the Yanbu-4 independent water desalination plant by the Saudi Water Partnership Company (SWPC), projected to supply 450,000 cu m per day of desalinated seawater using clean energy.
Engie and its partners have also been awarded three facilities management projects and five energy-efficiency projects within the kingdom, adding $944 million to its existing portfolio of projects and assets, making Engie a 10 per cent provider of electricity and an 11 per cent provider of potable water in Saudi Arabia.
In its growth this year, the company has hired 62 new employees bringing the total of Engie staff in the kingdom to 2,000. Engie’s most recent acquisition of Saudi-based facilities management firm, Allied Maintenance Company (AMC) adds 1,300 more employees to its workforce.
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