Envision Energy has formed a joint venture (JV) with Public Investment Fund (PIF) and Vision, sovereign wealth fund of Saudi Arabia Industries to boost wind power growth in the Middle East. As per the agreement, Envision Energy will hold the majority stake in the JV, while PIF and Vision Industries will hold the remaining stake.
The JV will focus on manufacturing and assembling wind turbine components, including blades, nacelles, and hubs. Reportedly, the partnership aims to localise 75 per cent of renewable energy components by 2030 in line with the National Renewable Energy Program. Additionally, this collaboration enhances global efforts in the clean energy transition and sustainable future.
The PIF is advancing the Kingdom’s energy transformation through investments in wind power, photovoltaics, hydrogen, and energy storage projects. Envision Energy was chosen for its expertise in smart wind power, energy storage systems, and green hydrogen solutions. Envision’s position as a leading player in wind power order intake for two years highlights its importance in the global energy shift.
In May 2024, Atlantic Green selected Ameresco and Envision Energy to develop the Cellarhead project, a 300 MW battery energy storage project (BESS) with a maximum energy capacity of 624 MWh. The Cellarhead BESS project will be connected to National Grid’s Cellarhead substation and will provide the UK with additional energy security and reliability.
