Envision Energy forms JV for manufacturing wind turbines in Saudi Arabia

Envision Energy has unveiled a joint venture (JV) for manufacturing and assembling the wind turbines and components, including blades, nacelles and hubs in the Middle East.

Envision Energy said its joint venture partners include Saudi Arabia’s Public Investment Fund (PIF) and Vision Industries to accelerate the wind power growth throughout the Middle East. Financial details were not disclosed.

Envision Energy holds the majority share in the JV, while PIF and Vision Industries hold the remainder. The collaboration will support Saudi Arabia’s goal of localizing 75 percent of renewable energy components by 2030, in line with the Saudi Ministry of Energy’s National Renewable Energy Program.

Globally, PIF chose Envision Energy as its JV partner due to Envision’s leading position in green power, encompassing smart wind power, energy storage systems, and green hydrogen solutions that address the challenges of climate change. Envision Energy has topped the wind power order intake for two consecutive years.

The ceremony was attended by Yasir Othman Al-Rumayyan, the Governor of PIF, Lei Zhang, Chairman of Envision, and board members of Vision Industries, among others.