Goldwind scouts for investment opportunities in Saudi Arabia

Chinese wind turbine maker Xinjiang Goldwind Science & Technology (HKG:2208) has signed a memorandum of understanding (MoU) with two Saudi Arabian agencies to help it explore wind energy investment opportunities in the Kingdom.

The pact with the Saudi Industrial Property Authority (MODON) and the National Industrial Clusters Development Program was signed on Thursday on the sidelines of the Saudi-Chinese Investment Forum, says a post on the Saudi Arabian government’s website. Under its terms, MODON will provide Goldwind with land, while the National Industrial Clusters Development Program will help the Chinese firm explore investment opportunities and find local partners.

In April, Saudi Arabia’s Renewable Energy Project Development Office (REPDO) qualified more than 50 companies to bid for 300 MW of solar and 400 MW of wind projects as part of the desert country’s National Renewable Energy Program (NREP). Goldwind was shortlisted with 23 other firms to take part in the wind project.

Saudi Arabia has a goal of installing 9.5 GW of renewable energy capacity by 2030 under its Vision 2030 plan.

Choose your newsletter by Renewables Now. Join for free!