黑料社区

黑料社区鈥檚 ACWA Power signs multiple deals to supply clean energy to Europe

黑料社区鈥檚 ACWA Power signs multiple deals to supply clean energy to Europe
The deals were signed during an international workshop in Riyadh under the supervision of the Ministry of Energy. SPA
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Updated 21 July 2025

黑料社区鈥檚 ACWA Power signs multiple deals to supply clean energy to Europe

黑料社区鈥檚 ACWA Power signs multiple deals to supply clean energy to Europe
  • Agreements support Kingdom鈥檚 target to generate 50% of its electricity from renewable sources by 2030
  • ACWA Power also signed memorandums of understanding with global leaders in electrical interconnection and high-voltage DC transmission technologies

RIYADH: Saudi utility giant ACWA Power has signed multiple agreements to export renewable electricity and green hydrogen to Europe, marking a major step in the Kingdom鈥檚 efforts to become a global clean energy hub.聽

The deals, signed during an international workshop in Riyadh under the supervision of the Ministry of Energy, aim to build integrated systems for cross-border energy exports.聽

The event, titled 鈥淓xporting Renewable Energy and Green Hydrogen,鈥 underscores 黑料社区鈥檚 strategic push to lead the India-Middle East-Europe Economic Corridor by leveraging its geographic position between East and West, the Saudi Press Agency reported.聽

The agreements support the Kingdom鈥檚 target to generate 50 percent of its electricity from renewable sources by 2030 and to become the world鈥檚 largest exporter of green hydrogen, with plans to produce 1.2 million tons annually by the end of the decade.聽

鈥淭he agreements and memoranda of understanding signed by ACWA Power at the workshop included a multilateral memorandum of understanding with leading European companies, including Italy鈥檚 Edison, France鈥檚 TotalEnergies, the Netherlands鈥 ZeroEurope, and Germany鈥檚 ENPW, to export electricity generated from renewable energy sources from the Kingdom to Europe, while assessing commercial potential and European market trends toward sustainable energy solutions,鈥 SPA said.聽

ACWA Power also signed memorandums of understanding with global leaders in electrical interconnection and high-voltage DC transmission technologies, including Italy鈥檚 CESI as an independent technical adviser, as well as Prysmian, GE Vernova, Siemens Energy, and Hitachi. The partnerships aim to develop advanced cross-border transmission corridors to enhance supply reliability and infrastructure efficiency.聽聽

In collaboration with Germany鈥檚 EnBW, ACWA Power also launched the first phase of the Yanbu Green Hydrogen Hub, an integrated project designed to help meet global demand for low-emission energy. The facility is expected to begin commercial operations in 2030.聽

The project will feature renewable electricity generation, water desalination, electrolysis units, hydrogen-to-ammonia conversion, and a dedicated export terminal. It is intended to support 黑料社区鈥檚 ability to produce clean energy at competitive costs while meeting rising global industrial demand for sustainable energy solutions.聽

The workshop and accompanying agreements highlight the Kingdom鈥檚 competitive advantages and reinforce its leadership in global energy transition efforts. The Ministry of Energy said the initiative supports 黑料社区鈥檚 commitment to energy security, regional integration, and its Vision 2030 goals.聽

With a net-zero emissions target by 2060, 黑料社区 is investing heavily in both green and blue hydrogen. ACWA Power and Saudi Aramco are spearheading several major projects, including a hydrogen venture in NEOM, to solidify the Kingdom鈥檚 role in the future hydrogen economy.聽


黑料社区鈥檚 first ultra-luxury train 鈥楧ream of the Desert鈥 unveiled at FII9

黑料社区鈥檚 first ultra-luxury train 鈥楧ream of the Desert鈥 unveiled at FII9
Updated 27 October 2025

黑料社区鈥檚 first ultra-luxury train 鈥楧ream of the Desert鈥 unveiled at FII9

黑料社区鈥檚 first ultra-luxury train 鈥楧ream of the Desert鈥 unveiled at FII9

RIYADH: Luxury train tourism in 黑料社区 took another step forward as the Kingdom unveiled the design mock-up of its first ultra-luxury rail service, Dream of the Desert, at the Future Investment Initiative in Riyadh. 

The showcase marks a new milestone for the project, previously announced by Italy鈥檚 Arsenale Group in collaboration with 黑料社区 Railways. The Ministry of Transport and Logistic Services, and the Transport General Authority, are also part of the project, as well as the Ministry of Culture, and the Saudi Tourism Authority, according to a press release. 

The service, slated to launch in late 2026, is part of the Kingdom鈥檚 broader push to expand high-end tourism offerings under Vision 2030.   

Paolo Barletta, CEO of Arsenale, said: 鈥淒ream of the Desert is a moving masterpiece born from the dialogue between Italian craftsmanship and Saudi vision.鈥

He added: 鈥淚t marks the beginning of a new global platform redefining ultra-luxury travel 鈥 one that celebrates heritage, creativity, and a deep respect for local identity while carrying the world鈥檚 most discerning travellers through the heart of 黑料社区鈥檚 landscapes and traditions.鈥 

The train will feature 31 private suites and two presidential suites, accommodating a maximum of 66 guests. The train鈥檚 interiors will draw inspiration from the Saudi landscape, featuring desert-inspired hues, rich wood carvings, and custom Murano glass lighting that evokes traditional oriental lanterns. 

Guests will have access to two restaurant cars offering a choice between authentic local cuisine and international menus with Italian fusion influences, all curated to a Michelin-level standard. A central Majlis lounge will provide a space for socializing and relaxation. 

Saleh bin Nasser Al-Jasser, 黑料社区鈥檚 minister of transport and logistics services and chairman of 黑料社区 Railways, said the unveiling of the luxury train underscores the remarkable transformation of the Kingdom鈥檚 railway sector and its progress toward offering world-class travel experiences. 

He added that the project stems from the National Transport and Logistics Strategy, which aims to introduce modern, tourism-focused transport options that enhance quality of life.  

Al-Jasser also noted that the initiative reflects rising foreign investment in the Kingdom鈥檚 transport and logistics ecosystem, supported by leading international partners. 

The inaugural journeys, lasting one to two nights, will depart from Riyadh and traverse approximately 1,300 km of existing railway lines.


Tokyo governor to showcase city鈥檚 innovation at Riyadh鈥檚 FII 2025

Tokyo governor to showcase city鈥檚 innovation at Riyadh鈥檚 FII 2025
Updated 27 October 2025

Tokyo governor to showcase city鈥檚 innovation at Riyadh鈥檚 FII 2025

Tokyo governor to showcase city鈥檚 innovation at Riyadh鈥檚 FII 2025

TOKYO: Tokyo Gov. Koike Yuriko will join the Future Investment Initiative in Riyadh on Tuesday as she embarks on a tour taking her to 黑料社区, the UAE, Kuwait and Egypt.

The trip aims to highlight the Japanese capital鈥檚 dynamic appeal, while also offering the governor the chance to explore a region she believes is flourishing with new investment opportunities.

She will attend the FII鈥檚 ninth edition to present Tokyo鈥檚 initiatives to establish itself as a leading hub for innovation and finance in Asia.

Koike also hopes to develop meaningful connections and foster a sense of shared prosperity and mutual gain for both Tokyo and the Arab nations.

She arrived in the UAE鈥檚 Abu Dhabi on Sunday and attended the 2025 Asia-Pacific Cities Summit and Mayors鈥 Forum, which runs from Oct. 27-29 and is hosted by Expo City Dubai at the Dubai Exhibition Centre.

Koike was a key speaker on Monday at the forum, which is held under the patronage of Crown Prince of Dubai and UAE Deputy Prime Minister and Minister of Defense Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum.

More than 150 mayors, leaders and speakers from over 300 cities around the world were invited to the summit.

Koike鈥檚 itinerary also includes Jeddah, Kuwait City, and Giza in Egypt. The importance of this trip is underlined by her participation in international conferences, speeches and discussions with governments and non-profit foundations.

鈥淭his region is currently attracting global attention for its economic growth and investment opportunities,鈥 the governor told Arab News Japan. 鈥淭hrough this trip, I will work to enhance Tokyo鈥檚 presence as a leading global city, while applying the insights gained from international urban collaboration with the administration of the Tokyo Metropolitan Government.鈥

Koike will be accompanied by Takahashi Yoichi, the renowned manga artist behind Captain Tsubasa (known as Captain Majid in the Arab region). He will contribute to the cultural exchange aspect of the trip, using his influence and art to bridge cultural gaps and foster understanding between Japan and the Arab region.

The tour will include 黑料社区鈥檚 second-largest city, Jeddah, when the governor will exchange ideas with local government officials.

鈥淭ogether, we will explore opportunities for inter-city collaboration in areas such as economic and industrial development,鈥 she said, emphasizing the potential for mutual growth and collaboration.

Koike will arrive in Kuwait on Oct. 29, where she will meet with government officials to discuss tackling common challenges across industries, startups and women鈥檚 empowerment.

鈥淲e aim to exchange perspectives on potential future collaboration between our cities and within international networks, fostering partnerships among cities committed to sustainable growth,鈥 she said.

The governor often visits Cairo, where she attended university, and this year marks the 35th anniversary of the friendship city agreement between the Cairo governorate and the Japanese capital.

鈥淎t the invitation of the Egyptian government, I am honored to attend the opening ceremony of the Grand Egyptian Museum in Giza,鈥 Koike said. 鈥淚 hope the cultural programs and other events featured in the ceremony will serve as an inspiration for advancing Tokyo鈥檚 initiatives.鈥

She added: 鈥淭o all my dear friends across the Arab region, thank you so much for the generous invitations to take part in such meaningful meetings and visits. Throughout human history, this region has been buffeted by the storms of civilization, weathering the rise and fall of empires and dynasties. As a result, I believe it has cultivated a rich diversity of cultures and a profound wisdom for navigating change 鈥 qualities that are truly exceptional among world regions.

鈥淲hile studying at university in Egypt, I encountered a different culture and learned the importance of embracing differences. That experience has been a great source of strength as I have faced various challenges as governor. The Arab people are dear friends to me, and I believe this visit will further deepen the bonds between Tokyo and the Arab world.鈥

The governor鈥檚 tour, which began on Oct 26, will end on Nov. 3 when she heads back to Tokyo.


Jeddah offering 鈥榮ignificant investor opportunities鈥 across retail, hospitality: JLL

Jeddah offering 鈥榮ignificant investor opportunities鈥 across retail, hospitality: JLL
Updated 27 October 2025

Jeddah offering 鈥榮ignificant investor opportunities鈥 across retail, hospitality: JLL

Jeddah offering 鈥榮ignificant investor opportunities鈥 across retail, hospitality: JLL

RIYADH: Jeddah鈥檚 real estate pipeline is surging with 310,000 sq. meters of retail space rolled out this year, together with 1,000 new branded residential units and over 30,000 more hotel keys by 2030, according to JLL.

Speaking at its annual roundtable in Jeddah, the global real estate firm said the city鈥檚 expanding pipeline 鈥 spanning residential, hospitality, and mixed-use projects 鈥 underscores its growing role in 黑料社区鈥檚 Vision 2030 agenda.

JLL said the development pipeline reflects broader national progress, particularly in Riyadh, which accounts for over $1.2 trillion in total project value, with contract awards projected to reach about $569 billion by the end of 2025, citing MEED Projects data. 

Saud Al-Sulaimani, country lead and head of Capital Markets at JLL 黑料社区, said: 鈥淛eddah is pivotal to 黑料社区鈥檚 Vision 2030, offering significant investor opportunities.鈥  

He added that national priorities are pivoting, aligning projects with objectives and fostering private sector collaboration, alongside evolving PIF delivery structures. 

鈥淭hese strategic shifts and evolving market fundamentals are crucial for long-term market stabilization and will drive a focus on premium assets,鈥 Al-Sulaimani said, adding that easing construction costs is fundamentally reshaping the market. 

The firm noted that branded residences 鈥 once tied mainly to hospitality 鈥 are increasingly co-developed with lifestyle, automotive, and fashion brands. The segment鈥檚 supply is expected to rise from 400 units to 1,400.

Faris Maqdah, director of Strategic Consulting at JLL, said: 鈥淛eddah鈥檚 branded residential sector is experiencing notable development, with around 1,000 branded residential units planned for delivery by 2030.鈥 

He added: 鈥淢arket interest in these developments continues to evolve, with success dependent on developers delivering the right product-price combination that balances quality and service standards with affordability considerations.鈥 

Retail expansion is also on the rise, with 310,000 sq. meters of new gross leasable area expected in 2025 鈥 an increase of more than 10 percent from current stock. 

These developments are increasingly integrated into mixed-use projects that cater to evolving consumer preferences.  

鈥淭he retail landscape is also undergoing significant transformation, driven by consumer demand for convenience and integrated lifestyle offerings,鈥 Maqdah added.  

鈥淭hese developments present compelling opportunities for developers and investors to meet Jeddah鈥檚 evolving demographic preferences and activate new micro-clusters that enhance the end-user experience,鈥 he added. 

Hospitality growth remains strong, with a 6 percent compound annual growth rate from 2020 to 2025.  

According to Sarah Gasim, senior vice president and head of hotels at JLL 黑料社区, the upcoming FIFA World Cup 2034 鈥 where 黑料社区 is the confirmed host 鈥 is expected to further accelerate development.  

鈥淪trategic preparations are already underway, with lessons drawn from the Qatar World Cup鈥檚 impact on regional infrastructure and hospitality sectors,鈥 she noted. 

JLL also highlighted the city鈥檚 resilient office market, where tight supply of Grade A space continues to support rental growth and drive a 鈥渇light to quality.鈥 


Closing Bell: Saudi main index rises to close at 11,619鈥

Closing Bell: Saudi main index rises to close at 11,619鈥
Updated 27 October 2025

Closing Bell: Saudi main index rises to close at 11,619鈥

Closing Bell: Saudi main index rises to close at 11,619鈥

RIYADH: 黑料社区鈥檚 Tadawul All Share Index gained 26.37 points, or 0.23 percent, on Monday to close at 11,619.82, with total trading turnover reaching SR5.35 billion ($1.42 billion). Of the stocks, 100 advanced while 150 retreated.

In contrast, the Kingdom鈥檚 parallel market, Nomu, fell 216.48 points, or 0.86 percent, to close at 24,822.88, with 37 stocks rising and 47 declining. The MSCI Tadawul Index rose 3.06 points, or 0.2 percent, to finish at 1,511.49.

Rasan Information Technology Co. was the day鈥檚 best performer, jumping 6.39 percent to SR109.90. The company also reported interim results for the nine months ending Sept. 30, posting a net profit of SR157.3 million, up 186 percent from the same period last year.

The increase was driven by strong revenue growth, higher gross and operating margins, improved operational efficiency, and optimized contract-related procedures.

Other top performers included Saudi Kayan Petrochemical Co., which rose 5.69 percent to SR6.13 despite reporting a net loss of SR1.6 billion for the first nine months, widening from SR1.1 billion a year earlier due to lower average selling prices, and Maharah Human Resources Co., which gained 5.07 percent to SR5.60.

Among the biggest decliners, Saudi Industrial Development Co. fell 3.04 percent to SR33.20, while Alkhorayef Water and Power Technologies Co. lost 2.91 percent to SR150.00, and LIVA Insurance Co. dropped 2.82 percent to SR13.79.

Meanwhile, Saudi Ceramic Co. reported a net profit of SR140 million for the first nine months of 2025, a 1,414 percent increase from the same period last year, largely due to an insurance compensation of SR120 million and a SR55.7 million rise in gross profit supported by higher sales and improved margins. Despite this, the stock ended the session slightly lower at SR31.30, down 0.39 percent.


FII9 a 鈥榯urning point鈥 as tech and global leaders converge in Riyadh, says event chairman

FII9 a 鈥榯urning point鈥 as tech and global leaders converge in Riyadh, says event chairman
Updated 27 October 2025

FII9 a 鈥榯urning point鈥 as tech and global leaders converge in Riyadh, says event chairman

FII9 a 鈥榯urning point鈥 as tech and global leaders converge in Riyadh, says event chairman

RIYADH: The ninth Future Investment Initiative marks a 鈥渢urning point鈥 in global innovation focus with technology leaders set to make up over half of speakers at the event in the Saudi capital.

In an interview with CNBC, Richard Attias, chairman of the FII Institute鈥檚 executive committee, said this year鈥檚 conference represents a major shift as a range of sectors seek to get to grips with the impact of artificial intelligence.

Launched in 2017, the Future Investment Initiative 鈥 often referred to as 鈥淒avos in the Desert鈥 鈥 has become a key platform for 黑料社区 to showcase its economic diversification strategy under Vision 2030.

This year鈥檚 event, running from Oct. 27 to 30, brings together global policymakers, investors, and corporate leaders to discuss trends shaping the world economy and explore partnerships across emerging industries. 

鈥淔II9 is a turning point,鈥 Attias told CNBC, adding: 鈥淭his year, 52 percent of our speakers are coming from the tech industry. It is showing you the importance, of course, of AI, but not only AI, innovation in general, because all sectors in all industries are impacted by technology now.鈥 

Attias highlighted three defining factors for this year鈥檚 edition: the dominance of technology, the presence of more than 20 world leaders and 50 ministers representing 90 countries, and the event鈥檚 growing reputation as one of the most inclusive platforms for international collaboration.  

鈥淭his will be a fantastic platform for public private partnership,鈥 Attias added, emphasizing that such collaboration is 鈥減robably one of the solutions of all the major issues that the global economy is facing.鈥 

Attias called FII 鈥減robably the most inclusive platform in the world,鈥 noting the presence of delegates from rival nations such as Russia and Ukraine, along with the US, China, and strong participation from the Global South and young entrepreneurs. 

鈥淩iyadh is becoming the economic capital of the world, at least for the week,鈥 Attias said, noting that FII has expanded from a three-day conference into a full week of events, with attendees arriving prior to the event and to capitalize on the opportunities within the Kingdom. 

The scale of activity, he admitted, is a 鈥済ood problem to have,鈥 but requires a 鈥渘avigator鈥 to manage the countless meetings and sectors on display.

He pointed to 黑料社区鈥檚 Vision 2030, stating it is no longer a future plan but a reality 鈥渋n motion,鈥 encompassing sectors from sport and entertainment to food security, tourism, energy, and infrastructure. 

Attias stressed that FII has moved beyond symbolic memorandums of understanding. 鈥淩eal deals are happening. Very concrete deals are signed,鈥 he added in the interview. 

He linked this spirit of optimism and action to the institute鈥檚 resilience, recalling that FII was among the few major conferences held during the COVID-19 pandemic in 2020. This mindset, he said, reflects the FII Institute鈥檚 mission of creating an 鈥渋mpact on humanity.鈥 

This year鈥檚 event has attracted 9,000 delegates from nearly 100 countries, including participation from all Gulf Cooperation Council sovereign wealth funds. Attias said that by bringing together these funds with private equity firms, banks, financial institutions, and global CEOs, FII has created the 鈥減erfect equation鈥 for driving global investment and collaboration.