Business Council Connects U.S. and Saudi Energy Industries at Power-Gen 2018
The U.S.-Saudi Arabian Business Council – in collaboration with the U.S. Foreign Commercial Service, Saudi Electricity Company, and Saudi Arabian General Investment Authority – completed its Saudi Power Generation Opportunities Seminar organized in partnership with Power-Gen International 2018.
Held in Orlando, Florida on December 5, 2018, the seminar welcomed a delegation of approximately 85 Saudi business leaders. Panel speakers included H.E. Dr. Abdulrahman M. Al-Ibrahim, Chairman of the Renewable Energy Committee, Riyadh Chamber of Commerce and Industry; Mr. Khalid Al-Tuaimi, Executive Vice President for Generation, Saudi Electricity Company; and Eng. Mohammed Alhajjaj, General Manager, Energy & Water Sector, Saudi Arabian General Investment Authority. The discussions focused on the potential for joint venture projects and trade sales, Saudi Arabia’s growing energy needs and the changing landscape since the creation of Vision 2030.
In the past 5 years, the value of contracts that involved U.S. companies in the Saudi Arabian power sector was approximately $17.4 billion through joint venture projects with Saudi companies like the Saudi Electricity Company, ACWA Power, and Saudi Aramco. Saudi Arabia continues to change policy to increase privatization and grow its investment in renewable energy, all tenants of Saudi’s Vision 2030.
“Amongst our companies, the Council continues to see a growing interest in partnering especially with American companies on power needs. Recent focus on renewable energy sets the U.S. as a critical partner for innovation leading to job opportunities for U.S. workers and increased opportunities for workforce development in Saudi Arabia.” said Edward Burton, CEO of the U.S.-Saudi Arabian Business Council. “Building capacity and sustainability will remain a priority in the Kingdom for generations to come.”