Skip to content Skip to Search
Skip navigation

PIF and Japan’s Jera explore green hydrogen projects

By Pramod Kumar
Saudi Arabia hydrogen Reuters/Hajer Abdulmohsin
Indian energry firm Acme Group raised $490 million last month to start its green hydrogen and ammonia project in Oman

Saudi Arabia’s Public Investment Fund (PIF) and Japanese energy company Jera Co. have signed a memorandum of understanding (MoU) to explore the development of green hydrogen projects and derivatives. 

The MoU allows the two companies to commence the necessary studies for projects in Saudi Arabia to support domestic and international markets.

Jera established Jera Middle East & Africa Management Co. Ltd. in Dubai in October 2021 to develop combined cycle power plants, large-scale renewable energy projects and green fuel production projects. 

The Japanese firm already has gas-fired power and desalination projects in the GCC region. It is actively seeking potential partners in the Middle East to expand its development of decarbonisation projects. 

French utilities firm Engie signed an initial agreement with PIF earlier this month to develop green hydrogen projects in the kingdom.

Saudi Arabia, Opec’s top oil producer, wants to strengthen its global competitiveness and diversify its hydrocarbons-dependent economy under the Vision 2030 roadmap, and investing in renewables is one way of doing this. 

The kingdom has pledged to generate at least 50 percent of its power from renewable sources by 2030 through the Saudi Green Initiative, diversifying away from oil exports.  

Latest articles

Saudi Aramco CEO Amin Nasser (centre back) at the signing ceremony for the quantum computer deal with Pasqal

Aramco to use Saudi Arabia’s first quantum computer

Saudi Arabia plans to deploy its first quantum computer, after an agreement between the state oil company, Saudi Aramco, and the French computing company Pasqal.  Pasqal will install, maintain and operate a 200-qubit quantum computer, due for deployment in the latter half of 2025, Aramco said in a statement. Quantum computers use the principles of […]

A Tadawul trader looks at prices on the Saudi stock exchange. Aramco's profits have fallen as Riyadh reduces oil output

Saudi listed companies report Q1 profit rise

Businesses listed on the Saudi stock exchange, excluding the state energy giant Aramco, reported an 8 percent rise in first-quarter profits this year, highlighting the continued strength of the non-oil sector as hydrocarbon output is cut.  Net profit gains in the banking sector, and for telecoms operator STC and state mining company Maaden, helped to […]

A jet on the assembly line at the Airbus factory in Blagnac, France. Saudia says it is updating the interiors of its current fleet

Saudia announces ‘largest deal in Saudi aviation history’

Saudia, one of Saudi Arabia’s national carriers, has ordered 105 aircraft from Airbus, with the first batch due for delivery in early 2026. Saudia director general Ibrahim Al-Omar told an aviation industry forum in Riyadh that it is “the largest deal in Saudi aviation history”. A similarly large order has been made by new carrier […]

Pilgrims Saudi Malaysia

Pilgrim air terminal planned for Kuala Lumpur airport

Saudi Arabia and Malaysia are planning to build a pilgrimage air terminal in Kuala Lumpur to increase tourism numbers in both countries. Malaysia’s transport minister Anthony Loke told an aviation industry forum in Riyadh that it was looking with the Saudi Arabian government into “building and establishing a Hajj and Umrah hub” in Kuala Lumpur […]