Afanar's new UK office to oversee $1.3bn investment programme

Alfanar Group has a global renewable development portfolio in PV, CSP, wind and waste-to-energy projects of 1.5GW
Afanar's new UK office to oversee $1.3bn investment programme
UK Minister for Investment, Graham Stuart with Alfanar management in Riyadh.
By Gavin Gibbon
Thu 18 Jul 2019 08:47 AM

The Alfanar Group, one of Saudi Arabia’s largest industrial conglomerates, is to open a renewable energy office in the UK to oversee its £1 billion ($1.3bn) investment programme.

The subsidiary of Alfanar Energy UK Ltd will be headquartered in London, creating up to 30 jobs.

The office will look after the plans to create six waste-to-energy projects, which are expected to create hundreds of new jobs.

The waste-to-energy projects will contribute to the UK Government’s recent commitment to “net zero” greenhouse gas emissions by 2050. The projects will also divert more than a million tons of waste away from landfill, supporting the UK Government’s Industrial Strategy Grand Challenge around Clean Growth.

During a visit to Riyadh, UK Minister for Investment, Graham Stuart, said: “I am very pleased that Alfanar has decided to extend their investment in the UK into the renewable energy sector.

“Alfanar has been working in the UK market since 2006, and today’s announcement demonstrates their confidence in the UK economy and our world leading renewable energy sector.”

Alfanar Group has a global renewable development portfolio in PV, CSP, wind and waste-to-energy projects of 1.5GW. It is also a worldwide energy EPC developer with an aggregated value of $2bn ongoing turnkey projects under construction or in final stages in EMEA and South Asia.”

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.