RIYADH: French firms will be involved in the development of three renewable energy projects in Saudi Arabia, according to Investment Minister Khalid Al-Falih. The projects are part of the Kingdom’s expanding efforts to spearhead the worldwide shift toward sustainable energy, and they will be formally launched by Saudi Energy Minister Prince Abdulaziz bin Salman in front of French President Emmanuel Macron.
“I’ll break the news in, but I’m not sure whether it’s already out. During the Saudi Green Initiative Forum at COP16 in Riyadh, Al-Falih stated that His Royal Highness Prince Abdulaziz would announce and sign three significant renewable projects in front of President Macron. Speaking on the larger trend toward sustainability, Al-Falih underlined that green finance is essential to international investment in the future and that it is consistent with Saudi Arabia’s sustainable development agenda.
He emphasized important topics like water management and halting desertification, saying, “I think the world today is really moving toward financing, investing, and supporting sustainability and energy and materials.” Al-Falih claims that in order to solve these issues, annual investments of trillions of dollars are needed worldwide.
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