Total and Zahid Group to develop solar energy in Saudi Arabia
Zahid Group and Total have established a joint venture named SAFEER to pursue the development of renewable energy in the Kingdom of Saudi Arabia, one of the world’s largest oil producer. SAFEER stands for Saudi French for Energy Efficiency and Renewables.
Jeddah-headquartered Zahid Group will be represented by “Altaaqa Alternative Solutions” while the French energy company Total, will be represented by “Total Solar Distributed Generation.”
In line with Zahid Group´s and Total’s commitment to the Kingdom of Saudi Arabia Vision 2030, SAFEER´s mission is to bring affordable and reliable solar energy solutions to commercial and industrial customers across the Kingdom of Saudi Arabia, leading the way in the development of the ecosystem for distributed generation through the delivery of state-of-the-art solutions, development of local content and talent while maintaining a second-to-none commitment to safety and quality.
Specializing in commercial and industrial solar installations on rooftops and carports, the joint venture will leverage Total´s expertise across the entire solar value chain and Altaaqa’s 18 years of leadership in delivering independent power and water utility solutions in the Kingdom.
Both the Zahid Group and Total have a track record of successful investments in Saudi Arabia’s oil & gas and energy sectors, creating numerous career opportunities while also being catalysts in the elevation of industry standards and best practices.
Senior Vice President, Renewables at Total, Julien Pouget, said: “In line with our 2050 carbon neutrality ambition and our growth strategy in renewables, we are committed to bring to SAFEER Total’s world-class expertise in on-site solar power generation solutions to provide clean, affordable and reliable energy to industrial and commercial customers in KSA. We are delighted to expand our partnership with Zahid Group to this new field opened by the Ministry of Energy in the frame of KSA Vision 2030.”
“Zahid Group is built on long-standing partnerships and associations with globally renowned brands and its adherence to the highest levels of professionalism and operating standards,” said Majid T. Zahid, president of Zahid Group, Energy.
“Across our 11 sectors of operation, Zahid Group has illustrated its commitment to our Kingdom’s future. Whether it is through the establishment of companies and joint ventures, the development of local talent, the empowerment of women, or the investment in new factories, facilities and technologies. We take great pride in the Kingdom’s ambitious plan to become a diversified investment powerhouse and are committed to playing our role in the realization of Vision 2030.”