Shared Vision: Hassana and EIG Intensify Cooperation

The Saudi Arabian Hassana Investment Company and the American EIG Global Energy Partners have signed a Memorandum of Understanding (MOU) to collaborate on infrastructure and energy transition projects in the Middle East. This underscores the joint ambition of both companies to expand local and regional investments in infrastructure and energy transition. EIG has established a specialized regional fund amounting to one billion US dollars, in which Hassana could participate as a major investor with up to 250 million US dollars. The participants, Saad bin Abdulmohsen Al-Fadly, CEO of Hassana, and Blair Thomas, Chairman and CEO of EIG, signed this groundbreaking agreement. Al-Fadly emphasized the significance of the new partnership: "Hassana is pleased to expand collaboration with EIG. This agreement reflects our shared commitment to expanding infrastructure investments and promoting energy transition in Saudi Arabia and the entire region." The collaboration is also intended to attract international investors and promote foreign direct investments, an important step in supporting the goals of Saudi Arabia's Vision 2030. Additionally, the regional transition to sustainable energy solutions is to be advanced. Blair Thomas added that the partnership with Hassana, which has already been fruitful in the Pearl Pipelines project in Saudi Arabia, is now being elevated to a new level. "We believe that energy transition is one of the decisive investment themes of the coming decades and that leading investors must collaborate to create a reliable, affordable, and sustainable energy system." In addition to this cooperation, EIG has recently launched Fidra Energy, a platform based in Edinburgh that specializes in energy storage solutions. Fidra Energy is pursuing three significant battery energy storage projects in the United Kingdom and aims to establish a 10 GW platform across the UK and Europe by 2030.