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French utility giant ENGIE SA is actively seeking to strengthen its presence in the renewable energy markets of Saudi Arabia and the United Arab Emirates (UAE) as both nations roll out major tenders for wind and solar power projects to diversify their energy sources. “The Gulf region has significant potential,” said Francois-Xavier Boul, ENGIE’s Managing Director for Renewables in the Middle East and North Africa (MENA), in an interview on Thursday. He highlighted that large-scale auctions in the region present a strategic opportunity for ENGIE to accelerate its growth in renewables. Already operating gas-fired power plants in the Gulf, ENGIE faces intense competition from energy rivals as the region increasingly embraces clean energy solutions. Saudi Arabia, under Crown Prince Mohammed bin Salman’s Vision 2030 plan, is driving new industries to create jobs and reduce reliance on hydrocarbons. In line with its expansion strategy, ENGIE is preparing to bid for four solar projects totaling 3 gigawatts (GW) and for 1.5 GW of wind projects under Saudi Arabia’s Round Six tenders, Boul revealed. However, he acknowledged that competition has been aggressive, noting that ENGIE had unsuccessfully bid for 3.7 GW of solar projects in the kingdom last year. The company is also awaiting the results of a tender for 1.5 GW of solar projects in Abu Dhabi, further signaling its commitment to the region’s renewable energy sector. Stronger Success in Egypt’s Wind Energy Market While facing challenges in the Gulf, ENGIE has made notable strides in Egypt, where it is part of a consortium that owns a 262.5-megawatt (MW) wind farm along the Gulf of Suez. The firm recently signed an agreement for a 150 MW extension to another wind park in the region. Once completed in 2025, the 650 MW wind facility will become Africa’s largest wind farm. Additionally, ENGIE and its partners are pursuing a 1 GW wind project in Egypt, with plans to finalize contracts next year and begin construction by 2028. As ENGIE continues its push into the Middle East and North Africa’s renewable energy markets, the company remains focused on securing key projects amid growing competition and ambitious clean energy targets set by regional governments. |
