The Alfanar Group, one of Saudi Arabia’s largest industrial conglomerates, will set up a renewable energy office in the UK to oversee Alfanar’s investments, including a £1 billion ($1.24 billion) investment into six waste-to-energy projects that are expected to create hundreds of new jobs.
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They will also divert more than a million tons of waste away from landfill, supporting the UK government’s Industrial Strategy Grand Challenge for clean growth.
Alfanar is primarily engaged in manufacturing a wide range of electrical construction products; engineering, procurement, construction (EPC) solutions for conventional and renewable power plants; allied engineering services; and design engineering.
Alfanar will set up its office in London through its subsidiary, Alfanar Energy UK Ltd., which is also expected to create as many as 30 jobs.
Jamal Wadi, CEO of Alfanar Global Development, had this comment on the investment: “We see clear benefits in partnering with UK-based suppliers, contractors, and engineering firms. Alfanar Group is a global player in the electricity sector, with a global renewable development portfolio in photovoltaic, concentrated solar power, wind and waste-to-energy projects of 1.5 GW.”
As a worldwide energy EPC developer, Alfanar has an aggregated value of $2 bn in ongoing turnkey projects under construction or in final stages in Europe, the Middle East, Africa and South Asia. According to a statement from the company, it also caters to various government and business sectors to support Saudi Arabia’s Vision 2030 nationalization and manufacturing plans for the power and water sectors.
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