The Clap
The Public Investment Fund (PIF) signed an agreement with the Chinese company “LONGi” to localize the solar energy products and services industry in Saudi Arabia.
What
The PIF made it clear in a tweet that the agreement is in line with its strategy of empowering promising sectors locally to achieve the country’s “Vision 2030” goal.
So What
Last month, the PIF acquired a 9.5% stake in Skyborn Renewables, a global leader in the development and operation of offshore wind technologies, as well as Global Infrastructure Partners, one of the most important global asset managers in the infrastructure sector.
Now What
LONGi is the world’s largest solar company, making wafers, cells, and panels.
