RIYADH: For an economy that has benefited so much from the rise of the oil-reliant automobile industry, it might be expected that Saudi Arabia would want to maintain the status quo. This could not be further from the truth, and the Kingdom is showing that like so many aspects of the global economy, it wants to be at the front and center of the new reality. Just look at the 160
RIYADH: ACWA Power’s CEO Suntharesan 'Paddy' Padmanathan resigned on Monday, reported the Saudi Stock Exchange. The board accepted Padmanathan’s resignation, and welcomed Marco Arcelli, an energy leader with over 30 years of experience, as the new CEO, revealed ACWA Power. Arcelli was previously chairman at Europe’s seventh largest electricity producer Ep New Energy, and had
RIYADH: US-based Lucid Motors is set to roll out its first fully Saudi-assembled electric car in September in the coastal city of Jeddah, said Faisal Sultan, vice president, and managing director in the Middle East.
RIYADH: Saudi-based NEOM Green Hydrogen Co. has signed finance agreements with several financial institutions amounting to $8.5 billion in order to finance its clean energy facility, according to a bourse filing. The NEOM Green Hydrogen Project includes the development, financing, design, engineering, procurement, manufacturing, and factory testing of a world scale green
RIYADH: Saudi power generation firm ACWA Power has signed an agreement for a new giga-scale green hydrogen project to expand its Indonesian portfolio. The Public Investment Fund-backed company has entered into a memorandum of understanding with the chemical manufacturing firm Pupuk Indonesia for the development of the project, according to a statement. The state-owned Pupuk