The Saudi Electricity Company (SEC), the largest electric power producer, carrier, and distributor in the Middle East and North Africa, has unveiled its extensive investment plans spanning up to 2030. This announcement coincides with the company's participation in the 7th edition of the prestigious Future Investment Initiative (FII7), held in Riyadh from October 24th to 26th.
The Future Investment Initiative (FII) is a global conference with its current session themed "The New Compass." It focuses on the significance of international dialogue in addressing today's most pressing challenges, featuring prominent national leaders and policymakers.
SEC actively engages in panel discussions at the FII, tackling crucial aspects of the future of the electric power industry. Topics include energy efficiency, advancements in harnessing big data through artificial intelligence to address energy consumption challenges, and the identification of investment opportunities to drive global economic growth.
Eng. Khaled bin Hamad Al Gnoon, CEO of Saudi Electricity Company, expressed the company's pride in its collaboration with the Future Investment Initiative Institute. He emphasized the region's substantial efforts in fostering the growth and development of various economic sectors, particularly the electricity sector.
The CEO outlined the key areas of investment focus for SEC in the upcoming years, encompassing the development of smart grids, enhancing their reliability, and introducing renewable energy projects. He also underscored the company's commitment to investing in energy production projects and contributing actively to the Kingdom's ambitious energy transformation initiatives.
Al Gnoon concluded by highlighting SEC's endeavors to leverage its expertise and extensive asset base, creating new growth opportunities in areas such as optical fiber, power services, and infrastructure for electric vehicles, among others.
