A Saudi-US-Chinese alliance, comprising the Saudi Public Investment Fund (PIF), US-based BlackRock, and the Chinese Silk Road Fund, has launched a green energy investment company with a $10 billion capital. The company is planning to invest in renewable projects across Saudi Arabia, the US, and China, focusing on wind, solar, and hydrogen, targeting 10 gigawatts by 2030. This move aligns with Saudi Arabia’s Vision 2030 to diversify its economy and underscores the three nations’ commitment to a sustainable future in the face of climate change.
Source: Saudi-US-Chinese Alliance Launches Green Energy Investment Company
