Vision, Saudi PIF, and Vision Industries Establish JV in Saudi Arabia
July 19,2024
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Yazeed Al-Humied of PIF emphasized that the fund aims to drive the adoption of leading renewable energy technologies in Saudi Arabia through strategic partnerships and investments, supporting national renewable energy plans.
The selection of Vision Group as a partner on a global scale by PIF underscores Vision's leadership in global green transformation, offering cutting-edge products and technologies in wind power, energy storage, green hydrogen, power batteries, and smart IoT solutions. Vision's innovative power systems and zero-carbon industrial parks are pivotal in driving global decarbonization efforts. Vision's wind turbine business has secured the largest global bidding volume for two consecutive years, with overseas orders accounting for 70% of all Chinese wind turbine enterprise orders.
Chairman Zhang Lei of Vision Group highlighted the synergistic potential between China's Belt and Road Initiative and Saudi Arabia's Vision 2030, positioning Vision Group as a leader in new energy systems. Through localized industrial chain development, Vision Group aims to drive the growth of Saudi Arabia's new industrial system.
The new power systems not only ensure the core of a clean, stable, and secure energy system but also lay a solid foundation for industrial low-carbon transformation and deep adjustment. Vision Group brings mature new energy equipment technology and new power system solutions, complemented by PIF's robust investment capabilities and Vision Industries' localization expertise. Through mutually beneficial international cooperation, these three entities are poised to pave the way towards a brighter zero-carbon future.
Source : www.chinatrucks.com
Editor : Alison
Views : 5734
Tags : Saudi Arabia Vision PIF
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