Saudi Arabia’s Public Investment Fund (PIF) has signed three pivotal agreements through its Renewable Energy Localization Company (RELC) to localize manufacturing and assembly of essential solar and wind power components, in line with the kingdom’s goal to generate 50 percent of its electricity from clean sources by 2030. These agreements, involving partnerships with Envision Energy, Jinko Solar, and LUMETECH S.A. PTE. LTD (TCL Zhonghuan Renewable Energy), focus on producing wind turbine blades, high-efficiency photovoltaic cells, and solar photovoltaic ingots and wafers, with capacities aimed at several gigawatts annually. Saudi Arabia’s strategic push aims to bolster its green economy, positioning itself as a global hub for renewable technology exports while emphasizing local manufacturing to meet ambitious localization targets.
