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BOOST FOR RENEWABLES

Total, Zahid form solar energy JV in Saudi Arabia

JEDDAH, Saudi Arabia, March 4, 2021

Jeddah-headquartered Zahid Group, represented by Altaaqa Alternative Solutions, and the French energy company Total have announced the establishment of a joint venture named Safeer – Saudi French for Energy Efficiency and Renewables.

Safeer´s mission is to bring affordable and reliable solar energy solutions to commercial and industrial customers across Saudi Arabia, leading the way in the development of the ecosystem for distributed generation through the delivery of state-of-the-art solutions, development of local content and talent while maintaining a second-to-none commitment to safety and quality.

Specialising 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.

Establishing Safeer comes as a natural response to the Ministry of Energy´s announcement to promote Renewable Distributed Generation in the Kingdom.

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 bring to Safeer 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 KSA. We are delighted to expand our partnership with Zahid Group to this new field opened by the Ministry of Energy in the frame of KSA Vision 2030.”

Majid T Zahid, President of Zahid Group, Energy, said: “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,”he added.

Safeer will be a home for the development of the careers of future generations of Saudi Arabians, 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. – TradeArabia News Service




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