Big announcement in Saudi Arabia

Riyadh: Saudi Power Company (Aqua) has announced investment in the government’s ‘green hydrogen projects’.

According to Arab media, the chairman of Aqua, Mohammad Abunian, said that the company would invest the proceeds from the launch of its stock market in renewable energy, water desalination and green hydrogen projects.

Aqua shares rose 30% on the Saudi Stock Exchange (Tadawul) while the company’s market value rose ڈالر 3 billion in the first few minutes of trading, a report said.

Mohammad Abounian says that Saudi Arabia has always been at the forefront of energy production while the country is also at the forefront of measures taken for green energy. Our company is operating in thirteen countries of the world.

Two weeks ago, Saudi Aqua Power Company announced a new project with Saudi oil firm Aramco worth 45 billion riyals.

“We will start work on these projects soon,” said the Aqua chairman. “Around 81 million companies worldwide get their electricity from Aqua Power, while 41 million companies use our water.”

Earlier, a Saudi company called Larsen & Toubro had signed an agreement with Indian company Larsen & Toubro in April this year for the construction of the Sudir Solar Power Project. Is also the world’s largest power plant.

Referring to the project, the company said that 30.8 square kilometers of land is available in the project being worked on in Riyadh region.


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