TotalEnergies and Zahid Group join forces to develop solar energy in Saudi Arabia
Updated: Jun 10
Paris, Jeddah, 3 March 2021 - Pursuing the development of renewable energy in the Kingdom of Saudi Arabia, Jeddah-headquartered Zahid Group, represented by “Altaaqa Alternative Solutions” and the French energy company TotalEnergies, announce the establishment of a joint venture named SAFEER – Saudi French for Energy Efficiency and Renewables.
In line with Zahid Group´s and TotalEnergies' commitment to the Kingdom of Saudi Arabia Vision 2030, SAFEER´s mission is to bring affordable and reliable solar energy solutions to commercial and industrial customers across the Kingdom of Saudi Arabia, leading the way in the development of the ecosystem for distributed generation through the delivery of state-of-the-art solutions, development of local content and talent while maintaining a second-to-none commitment to safety and quality.
Specializing in commercial and industrial solar installations on rooftops and carports, the joint venture will leverage TotalEnergies' expertise across the entire solar value chain and Altaaqa's 18 years of leadership in delivering independent power and water utility solutions in the Kingdom.
Both the Zahid Group and TotalEnergies have a track record of successful investments in the Kingdom’s Oil & Gas and Energy Sectors, creating numerous career opportunities while also being catalysts in the elevation of industry standards and best practices.
Establishing SAFEER comes as a natural response to the Ministry of Energy´s announcement to promote Renewable Distributed Generation in the Kingdom.
Commenting on the establishment of SAFEER, Julien Pouget, Senior Vice President, Renewables at TotalEnergies said, “In line with our 2050 carbon neutrality ambition and our growth strategy in renewables, we are committed to bring to SAFEER TotalEnergies' world-class expertise in on-site solar power generation solutions to provide clean, affordable and reliable energy to industrial and commercial customers in KSA. We are delighted to expand our partnership with Zahid Group to this new field opened by the Ministry of Energy in the frame of KSA Vision 2030.”
Majid T. Zahid, President of Zahid Group, Energy, added, “Zahid Group is built on long-standing partnerships and associations with globally renowned brands and its adherence to the highest levels of professionalism and operating standards.” Mr. Zahid added, “Across our 11 sectors of operation, Zahid Group has illustrated its commitment to our Kingdom’s future. Whether it is through the establishment of companies and joint ventures, the development of local talent, the empowerment of women, or the investment in new factories, facilities and technologies. We take great pride in the Kingdom’s ambitious plan to become a diversified investment powerhouse and are committed to playing our role in the realization of Vision 2030.”
SAFEER will be a home for the development of the careers of future generations of Saudi Arabians, a case study in partnerships between international leaders and local champions, a driving force in the diversification of the Kingdom’s economy and a leader in delivering on the Kingdom’s ambitious plans for renewable energy.
About Zahid Group
Zahid Group is a privately held organization headquartered in Jeddah, Saudi Arabia. Founded in 1943, it employs more than 5,000 people and is a leading player in multiple industries that include, energy & utilities, heavy machinery, financial services, industrial manufacturing, transport, and hospitality. The Zahid Group partners with leading global brands including Caterpillar, Volvo and Renault trucks, and TotalEnergies.
TotalEnergies is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
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