Positive Zero and Tamimi Energy have collaborated with a strategic focus on bidding, financing, and deploying these solutions, the partnership capitalizes on the expertise and resources of both entities to accelerate the transition towards sustainable energy in the region.
The collaboration between Positive Zero and Tamimi Energy marks a significant stride towards advancing solar energy deployment in Saudi Arabia. With this partnership, Positive Zero’s subsidiary, SirajPower, and Tamimi Energy’s ENERCO subsidiary are poised to spearhead the development and implementation of solar power projects across the Kingdom’s commercial and industrial sectors.
It may be noted that Positive Zero recently secured a substantial investment, amounting to $400 million from BlackRock, signifying the confidence and commitment towards fostering renewable energy initiatives in Saudi Arabia. This infusion of capital is anticipated to provide crucial support for the expansion and enhancement of solar projects facilitated by the partnership. Notably, such investments not only signify financial backing but also symbolize a broader endorsement of the Kingdom’s renewable energy ambitions, reinforcing the significance of private sector involvement in driving sustainable development.
Furthermore, the partnership comes at a pivotal juncture, coinciding with Saudi Arabia’s regulatory advancements aimed at fostering the growth of distributed solar energy solutions. Over the past 18 months, the Kingdom has implemented regulatory reforms conducive to the construction and provisioning of solar infrastructure. These changes, aligned with the broader objectives outlined in Vision 2030, including the ambitious target of installing 40 GW of solar PV capacity, underscore the government’s commitment to fostering a conducive environment for renewable energy adoption. By leveraging these regulatory reforms and strategic investments, Positive Zero and Tamimi Energy are poised to play a pivotal role in shaping the trajectory of solar energy development in Saudi Arabia, contributing significantly to the realization of the nation’s renewable energy aspirations.
