RIYADH: ENGIE, the France-headquartered energy and services conglomerate, said this week that its expansion in Saudi Arabia is firmly on track, with its asset and project value in the Kingdom valued at over $8 billion, and plans to invest in assets worth an additional $6.34 billion by 2025.
The French company established a dedicated holding company in Saudi Arabia in 2019 as part of a bid to bring all the group’s assets in the Kingdom under one entity.
ENGIE is now 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, it has 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 actors.
In February, the company was awarded the Yanbu-4 independent water producer desalination plant by the Saudi Water Partnership Company , projected to supply 450,000 cubic meters per day of desalinated seawater using clean energy.
ENGIE operations now provide 10 percent of the Kingdom’s electricity and 11 percent of its potable water.
The company has hired 62 additional employees, bringing the total number of staff in the Kingdom to 2,000. ENGIE plans to expand its workforce to over 5,000 employees by 2025.