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  • Aramco’s Diversification Strategy: Fueling Saudi Arabia’s Vision 2030

    Saudi Aramco is not only the largest oil producer globally but also the most profitable business, surpassing tech giants like Apple and Microsoft. Aramco is evolving far beyond its traditional role, now positioning itself at the forefront of economic diversification, technological innovation, and sustainability, aligning with the broader vision set forth by Crown Prince Mohammed bin Salman to transform the Saudi economy and reduce its dependence on oil. This shift has turned Aramco into a key player in reshaping the kingdom’s energy landscape and broader strategic interests. In a strategic move in March, Saudi Arabia transferred 8% of Aramco’s shares to the PIF – valued at around $163.6 billion, reflecting Aramco’s market worth – aiming to bolster the fund as the kingdom prepares for a possible IPO of the company. This transaction could provide additional financing for Vision 2030. The transaction raised the combined stake of the PIF and its affiliates in Saudi Aramco to 16%, equating to $327 billion in value.

  • Locating EV Charging Stations to Enable Intercity Travel in Saudi Arabia

    The development of electric vehicle (EV) infrastructure presents a promising pathway to reduce transportation emissions, particularly when integrated with low-carbon energy systems. Given Saudi Arabia’s commitment to sustainable travel initiatives, a clear understanding of the  charging infrastructure required for facilitating long-distance EV travel is crucial for informed decision-making.

  • Saudi Arabia’s Neo Space Group to Acquire UP42 from Airbus

    Saudi Arabia’s Neo Space Group (NSG) is making an acquisition in the Earth observation space, acquiring UP42 from Airbus Defence and Space. Terms of the deal were not disclosed in the Dec. 3 announcement. The deal is subject to regulatory approval.  UP42 is a geospatial solution platform that allows customers to access data and task satellites across multiple EO providers. The company is based in Berlin and its partners include Planet, BlackSky, Capella Space, Esri, and more. It serves end customers in a range of market verticals including agriculture, urban planning, real estate, infrastructure monitoring, and disaster management.

  • Saudi Arabia bets on tech to make deserts bloom

    Saudi Arabia accounts for nearly 75 percent of Middle East investment in climate technology start-ups worldwide, according to a 2023 report by auditor PwC. But its investment in green tech skews towards energy, with $363 million plowed into climate-friendly energy solutions—nearly 10 times as much as was invested in innovations related to food, agriculture and land-use, PwC said.

  • Crown Prince: Saudi Arabia provides $6B funding for 200 water projects

    Crown Prince and Prime Minister Mohammed bin Salman inaugurated the “One Water Summit” in Riyadh on Tuesday evening in the presence of several presidents and top officials, including the French President. In his opening speech, the Crown Prince said that this summit is being launched in conjunction with the Kingdom's hosting of the 16th Conference of the Parties to the United Nations Convention to Combat Desertification, which aims to reduce land degradation and drought. “The world is facing mounting challenges in the water sector, including rising drought rates that lead to multiple crises represented by a shortage of usable water, the exacerbation of desertification, and the subsequent threat to human life and societies,” said the Crown Prince. He highlighted that Saudi Arabia provided $6 billion in funding for 200 water-related development projects.

  • Saudi Arabia signs solar deals with France’s TotalEnergies

    A separate power purchase agreement for the Kingdom’s Al Masa’a solar power plant project was signed between the Saudi Power Procurement Company (SPPC), French state-owned power utility EDF and Chinese State Power Investment Corporation (SPIC). Another agreement was signed between the three sides for the Al Hnakia 2 solar power plant. The investment forum also saw an agreement between Saudi’s Public Investment Fund (PIF), wholly owned subsidiary Saudi Investment Recycling Company (SIRC) and Veolia for the incorporation of waste management and recycling in the Kingdom.

  • Saudi Arabia announces 5 new initiatives worth $60 million at SGI Forum

    Saudi Arabia unveiled five new initiatives, valued at $60 million (SR 225 million), reinforcing the Kingdom's leading role on climate and environment efforts. The initiatives were announced on the fourth edition of the Saudi Green Initiative (SGI) Forum, which began on Tuesday, coinciding with the 16th session of the Conference of the Parties to the United Nations Convention to Combat Desertification (COP16) in Riyadh. Five new initiatives, led by Ma’aden, Morooj Foundation in partnership with the private sector, and the Tanmiah Food Company, represent a $60 million investment to accelerate afforestation efforts. These initiatives aim to plant millions of trees and mangroves, scatter 300 million seeds, rehabilitate degraded land, reduce air pollution, and enhance biodiversity across the Kingdom.

  • Saudi Arabia and World Bank Group to Establish a Global Knowledge Hub in Riyadh

    The World Bank Group–Saudi Arabia Knowledge Hub (K-Hub) will serve as a platform for knowledge generation and exchange to drive greater development impact for countries. The K-Hub will facilitate inbound and outbound knowledge transfer, collaboration on innovative research, capacity building programs, and evidence-based policy solutions. “Diversifying economies and driving policies that lead to a more competitive and efficient business environment are key to success,” said Ajay Banga, President of the World Bank Group. “The new Knowledge Hub being created by the World Bank Group and Saudi Arabia is a key step forward to scale up and extend the wide reach of global knowledge critical to delivering such impact.”

  • KAPSARC and Climeworks to explore feasibility of Direct Air Capture solutions in Saudi Arabia

    The MoU outlines a roadmap to assess the deployment of new DAC systems in the Kingdom, focusing on availability of natural resources including subsurface CO₂ storage. Additionally, the initiative examines DAC’s economic and environmental impacts while fostering local workforce development, supporting the Kingdom’s broader sustainability goals and aligning with the Circular Carbon Economy (CCE) framework. KAPSARC’s Vice President of Knowledge & Analysis, Axel Pierru, emphasized the importance of this initiative, stating, “This collaboration marks a significant step in exploring innovative carbon removal solutions tailored to Saudi Arabia’s unique context and large geological CO₂ storage capacity. Our research shows the key role that the development of DAC in the Kingdom will potentially play in achieving a net-zero energy system, both domestically and globally.”

  • Saudi Arabia hits 900+ sports sponsorships in quest for influence

    The study mapped 910 sponsorships in different sports and 1,412 positions in 207 Saudi entities, noting that the kingdom has significantly expanded its web of sponsorships, partnerships and strategic investments in 2024. Most of the sponsorships are with Saudi’s Public Investment Fund (PIF), which inked deals with the Association of Tennis Professionals (ATP), the Women’s Tennis Association (WTA) and soccer federation Concacaf, among others, over the last 12 months. All told, PIF accounts for 346 sponsorships across sports, according to Play the Game. That amount surpasses the total number of sponsorships Play the Game’s researchers identified in its dataset from 2023.