Saudi Energy has signed a cooperation agreement with French public investment bank Bpifrance to support financing for projects aimed at developing and expanding Saudi Arabia’s power grid.

The agreement was signed during the Saudi-French Investment Roundtable held alongside Crown Prince and Prime Minister Mohammed bin Salman’s state visit to France.

It focuses on providing competitive financing solutions for Saudi Energy’s procurement activities and strategic projects.

The deal builds on a memorandum of understanding signed in November 2025, which established a framework for procurement financing facilities to support the company’s purchasing program and diversify funding sources.

Under the cooperation, BNP Paribas and HSBC will coordinate the financing process, with the parties also seeking to expand the pool of international lenders.

The initiative is expected to diversify liquidity sources and increase financing flexibility for future projects.

Saudi Energy said the agreement will help leverage international financing instruments to support power infrastructure development, strengthen grid reliability and stability, and improve project execution efficiency.

The agreement also highlights growing economic and financial cooperation between Saudi and French institutions as both countries seek to deepen strategic partnerships across multiple sectors. -OGN/TradeArabia News Service