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Saudi Arabia Launches UK Renewable Project

The Saudi Arabian firm, Alfanar Group, has plans to introduce a renewable energy office scheme in London to address the excessive industry’s activity in the UK.

The firm has suggested that there will be a £1.3bn investment in various energy projects across the UK and according to Arab news sources, Alfanar Energy UK Ltd is expected to create an extra thirty job opportunities.

Alfanar supports the industry investment in waste-to-energy products which contributes to the government recent plans which were launched to eliminate greenhouse gas emissions by 2050.

Sources say that Graham Stuart, the minister for investment at the UK Department for International Trade, said that  “Alfanar has been working in the UK market since 2006, and this announcement demonstrates their confidence in the UK economy and our world-leading renewable energy sector.”

 

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The chief executive of Alfanar Global Development, Jamal Wadi, reportedly said: “We see clear benefits in partnering with UK-based suppliers, contractors and engineering firms.”

In March 2019, the firm made a connection with Electric Generation Company Bangladesh to commence the construction of a 100MW solar independent power project.

In addition to this, Alfanar has enhanced its renewable energy sources, securing £66.84 million (SAR281.2 million) for an Islamic financing from Arab Petroleum Investments Corporation (Apicorp) and has adopted the usage of a wind generated power development which is located in Spain.

This EPC (engineering, procurement, and construction) driven company will hopefully expand their renewable-energy-conscious office across the UK in an attempt to aid the government’s sustainability ambitions.

Specialists in Construction Insurance

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