July 18 (Renewables Now) - Saudi Arabia’s Alfanar Group will pour GBP 1 billion (USD 1.2bn/EUR 1.1bn) in waste-to-energy projects in line with a plan to expand its activities in the UK renewable energy sector.
The industrial conglomerate unveiled the investment on Wednesday and said the six projects will help divert over 1 million tonnes of waste away from landfill. The company is also setting up a new renewable energy office based in London with Alfanar Energy UK Ltd in charge.
“Our investment in the UK underlines our commitment to the renewable energy sector. We see clear benefits in partnering with UK-based suppliers, contractors, and engineering firms,” said Jamal Wadi, CEO of Alfanar Global Development.
Alfanar has 1.5 GW of renewables in its portfolio, including solar photovoltaic (PV), concentrated solar power (CSP), wind and waste-to-energy assets.
(GBP 1.0 = USD 1.243/EUR 1.108)