Abdul Latif Jameel Energy and Environmental Services (ALJE & ES), which recently celebrated the first anniversary of its acquisition of Fotowatio Renewable Ventures (FRV), a major global developer of large-scale solar power plants, has reaffirmed its readiness to support Saudi Arabia’s national agenda for a renewable energy industry, as outlined in the Vision 2030 plan.
Mohammed Abdul Latif Jameel, chairman and CEO of Abdul Latif Jameel, said: “Led by the bold Vision 2030 plan, Saudi Arabia today is undergoing significant economic diversification initiatives, which includes the creation of a long-term renewable energy industry. We fully support this goal, and are strategically placed to be part of the development of this burgeoning sector.”
Over the last few years, ALJE & ES has taken strategic steps in building its capabilities, culminating in the acquisition of FRV a year ago. Completed in April 2015, the acquisition resulted in ALJE & ES’ 100 percent ownership of FRV, making the company the largest GCC-based solar photovoltaic (PV) developer and one of the major solar PV developers in the world.
As part of its drive to identify and drive investments and strategic partnerships in Saudi Arabia, Abdul Latif Jameel appointed Omar Al-Madhi as senior MD and member of the board for investments, based in Riyadh. He also leads the Saudi-based activities for ALJE & ES, exploring opportunities and forming strategic partnerships in Saudi Arabia’s renewable energy sector.
Al-Madhi added: “As we explore new opportunities for growth and diversification within Saudi Arabia, we have identified the renewable energy sector as vital within this plan and as we extend our capabilities in the solar PV business. We are also interested in supporting water desalination and energy efficiency initiatives.”
Mohammed Abdul Latif Jameel, chairman and CEO of Abdul Latif Jameel, said: “Led by the bold Vision 2030 plan, Saudi Arabia today is undergoing significant economic diversification initiatives, which includes the creation of a long-term renewable energy industry. We fully support this goal, and are strategically placed to be part of the development of this burgeoning sector.”
Over the last few years, ALJE & ES has taken strategic steps in building its capabilities, culminating in the acquisition of FRV a year ago. Completed in April 2015, the acquisition resulted in ALJE & ES’ 100 percent ownership of FRV, making the company the largest GCC-based solar photovoltaic (PV) developer and one of the major solar PV developers in the world.
As part of its drive to identify and drive investments and strategic partnerships in Saudi Arabia, Abdul Latif Jameel appointed Omar Al-Madhi as senior MD and member of the board for investments, based in Riyadh. He also leads the Saudi-based activities for ALJE & ES, exploring opportunities and forming strategic partnerships in Saudi Arabia’s renewable energy sector.
Al-Madhi added: “As we explore new opportunities for growth and diversification within Saudi Arabia, we have identified the renewable energy sector as vital within this plan and as we extend our capabilities in the solar PV business. We are also interested in supporting water desalination and energy efficiency initiatives.”
