The Saudi Electricity Company (SEC) has signed a tri-party Memorandum of Understanding (MoU) with Bpifrance and GE Vernova to facilitate financing for energy sector projects valued at up to USD 3 billion.
The agreement aims to strengthen international cooperation, accelerate the development of innovative energy solutions, and support Saudi Arabia’s ongoing transition toward sustainable and low-carbon power systems. As part of the collaboration, the parties will work together to finance and implement advanced technologies that enhance grid performance, efficiency, and reliability.
According to SEC, the partnership underscores its commitment to expanding strategic alliances that contribute to the Kingdom’s clean energy goals and long-term energy security. Bpifrance and GE Vernova highlighted that the MoU will enable greater deployment of next-generation technologies and foster deeper collaboration between French, American, and Saudi stakeholders in the energy sector.
The strategic impact of the agreement focuses on three core pillars:
- Strengthening international cooperation in the energy sector,
- Developing innovative solutions and technologies, and
- Supporting the transition to sustainable energy across Saudi Arabia and the broader region.
The signing ceremony brought together senior representatives from SEC, Bpifrance, and GE Vernova to mark the beginning of this expanded cooperation.
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