Saudi Energy (SE), a Saudi Arabian power company, has signed a cooperation agreement with French public investment bank Bpifrance for financing of up to USD3 billion to support power infrastructure projects, procurement activities, and its strategic investment programme.
Under the agreement, Bpifrance will provide competitive financing solutions for projects to develop and expand Saudi Arabia’s power transmission network, as well as Saudi Energy’s procurement activities. The funding will support investments aimed at strengthening grid reliability and stability, meeting future electricity demand growth and improving the execution of strategic power infrastructure projects.