In line with the renewable energy goals of Vision 2030, the Jeddah-headquartered Zahid Group and French energy company Total have announced the establishment of a joint venture named Saudi French for Energy Efficiency and Renewables (SAFEER).
Zahid Group is represented by Altaaqa Alternative Solutions while Total is represented by Total Solar Distributed Generation.
SAFEER’s mission is to bring affordable and reliable solar energy solutions to commercial and industrial customers across Saudi Arabia. The company aims to lead the way in the creation of an ecosystem for distributed generation through state-of-the-art solutions, and the development of local content and talent while maintaining a second-to-none commitment to safety and quality.
Specializing in commercial and industrial solar installations on rooftops and carports, the joint venture will leverage Total’s expertise across the entire solar value chain and Altaaqa’s 18 years of leadership in delivering independent power and water utility solutions in the Kingdom.
Both the Zahid Group and Total have a track record of successful investments in the Kingdom’s oil and gas and energy sectors, creating numerous career opportunities while also being catalysts in the elevation of industry standards and best practices.
The establishment of SAFEER comes as a natural response to the Ministry of Energy’s directive to promote renewable distributed generation in the Kingdom, the companies said.
Julien Pouget, senior vice president, renewables at Total, said: “In line with our 2050 carbon neutrality ambition and our growth strategy in renewables, we are committed to bringing Total’s world-class expertise in on-site solar power generation solutions to provide clean, affordable and reliable energy to industrial and commercial customers in the Kingdom. We are delighted to expand our partnership with Zahid Group to this new field opened by the Ministry of Energy, which comes within the framework of Vision 2030.”
Majid T. Zahid, group president, energy at Zahid Group, added: “Zahid Group is built on long-standing partnerships and associations with globally renowned brands and its adherence to the highest levels of professionalism and operating standards.
“Across our 11 sectors of operation, Zahid Group has illustrated its commitment to our Kingdom’s future — whether it is through the establishment of companies and joint ventures, the development of local talent, the empowerment of women, or the investment in new factories, facilities and technologies. We take great pride in the Kingdom’s ambitious plan to become a diversified investment powerhouse and are committed to playing our role in the realization of Vision 2030.”
SAFEER aims to be a home for the development of the careers of future generations of Saudis, a case study in partnerships between international leaders and local champions, a driving force in the diversification of the Kingdom’s economy and a leader in delivering on the Kingdom’s ambitious plans for renewable energy.