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Triple M plans to acquire a total of 1.5 GW capacity of renewable energy projects in and out of Egypt. This includes 500 MW of wind energy projects and 1,000 MW of solar energy projects.
Chairperson of Triple M Saudi Arabia, Hatem Al-Romy said that Triple M is working in the solar energy production field regardless of whether these are connected with the electric grid or not.
The company also sets up water desalination plants for energy production and waste recycling. The partnership with Fawasil aligns with the company’s aim to decrease its carbon emission and also with the kingdom’s 2050 Vision.
Triple M is equally owned by Triple M Egypt and Fawasil of Saudi Arabia. Triple M currently has a total of 1,952 MW capacity of solar and wind energy projects.
Fawasil currently owns 5 factories in Saudi Arabia and has around 32 projects. Chairperson of Fawasil, Omar Al-Harbi said that various projects by Triple have helped in expanding the markets and this partnership will give more scope for such projects in the Kingdom.