Saudi Electricity Company is a Strategic Partner of the Future Investment Initiative Institute and Reveals large Investments

Saudi Electricity Company (the largest electric power producer, carrier and distributor in the Middle East and North Africa) has revealed massive investment plans up to 2030 alongside its participation in the 7th edition of the internationally renowned Future Investment Initiative (FII7) hosted in Riyadh from the 24th to 26th of October.

The Future Investment Initiative (FII) is a global conference which is being held in its current session under the theme of “The New Compass,” highlighting the impact of global dialogue in overcoming today’s most pressing challenges, in the presence of a large number of national leaders and policy makers.

Saudi Electricity Company is participating in panel sessions and discussing key issues in the future of the electric power industry, including the future of energy efficiency and the strides being made in the use of huge data using artificial intelligence to address challenges in energy consumption, as well as seizing investment opportunities to promote global economic growth.

Saudi Electricity Company CEO Eng. Khaled bin Hamad Al Gnoon commented on the company’s participation in the Future Investment Initiative, saying: “We are proud of our partnership with the Future Investment Initiative Institute.  Through this partnership, we seek to emphasize the great efforts of the region in the growth and development of the economic sectors, especially the electricity sector.

The CEO also highlighted the main areas of investment that the company will focus on in the coming years, including the construction of smart grids, improving their reliability, and adding renewable energy projects.

Also adding: We are aiming to invest in the development of an energy production projects portfolio and in the liquid displacement program, while actively contributing to the Kingdom’s ambitious energy transformation plans. He concluded that the Saudi Electricity Company is working to leverage its expertise and huge asset base to provide additional growth opportunities from new businesses, such as optical fiber, power services, and providing infrastructure for electric vehicles and others.