October 2024

As part of a strategic partnership Al Muhaidib Group and Group AMANA launch ‘SAMANA’ a newly formed venture for developing and operating renewable energy in KSA

Al Muhaidib Group, a globally leading strategic investments group in the Kingdom of Saudi Arabia (KSA), is collaborating with Group AMANA, the leading regional design-build company in the region, to launch “SAMANA”, a newly formed venture to lead the development and operations of medium and small scale renewable energy in the Kingdom. The partnership agreement was signed by Mr. Isam bin Majid AlMuhaidib, Vice President of the Industrial and Infrastructure Sector at AlMuhaidib Group; and Mr. Riad Bsaibes, Vice Chairman of Group AMANA.

“SAMANA” aims to develop and operate small and medium scale photovoltaic solar energy projects to supply renewable clean energy to commercial and industrial facilities as well as large residential projects. The targeted sectors by “SAMANA” include logistics, refrigerated and non-refrigerated food storage facilities, data centers, and cloud spaces. “SAMANA” offers solutions to facilities operating outside the national electricity grid, enabling them to achieve higher efficiency levels instead of relying on fuel to power their operations, increasing their energy self sufficiency, and achieving sustainability goals while reducing carbon emissions.

“SAMANA” will contribute to enhancing economic diversification, creating job opportunities, lowering energy costs, protecting the environment, and reducing emissions. Saudi Arabia ranks sixth globally in solar radiation levels that can be harnessed to generate renewable energy, significantly contributing to achieving global sustainability development goals and Saudi Vision 2030. In line with this ambitious vision, the Kingdom continues to implement strategic initiatives and programs to increase the use of renewable energy, such as the National Renewable Energy Program (NREP)

Mr. Isam bin Majid AlMuhaidib, Vice President of the Industrial and Infrastructure Sector at AlMuhaidib Group, said: “We are optimistic about our partnership with Group AMANA and its role in developing the renewable energy infrastructure, and enhancing our reliance on renewable energy sources. Which contributes to achieving the global sustainable development goals. Our collaboration and the formation of the new venture will significantly enhance access to renewable energy sources, leading to improved energy efficiency and reduced dependence on non-renewable sources.”

Mr. Riad Bsaibes, Vice Chairman of Group AMANA said: “at Group AMANA, we gained our expertise through our portfolio of companies specialized in solar energy and sustainability in the region. By integrating our expertise in renewable energy solutions with the capabilities and resources of AlMuhaidib Group, we are taking a significant step towards a brighter, more sustainable, and cost-effective future. “SAMANA” is the result of the Kingdom’s innovation growth through its leading companies, and we are proud to be part of Saudi Arabia’s future in collaboration with our partners.”

The new venture aims to contribute to building a sustainable future, aligning with the objectives of ‘Saudi Vision 2030’ to establish a diverse and sustainable economic model. “SAMANA” will undertake ambitious initiatives and projects, focusing on investing in and enhancing renewable energy production capacities and efficiencies through the use of the latest technologies.

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About AlMuhaidib Group: 

“AlMuhaidib Group” is one of the largest and most strategically diversified investment firms in the Kingdom of Saudi Arabia and is a wholly Saudi-owned investment company. Headquartered in Dammam, the company also operates offices in Riyadh and Jeddah.

AlMuhaidib Group owns a diverse portfolio of investments in companies across both public and private sectors, both in the Kingdom of Saudi Arabia and globally. It holds a significant share in several market-leading companies in sectors such as food and consumer, industrial and infrastructure, real estate development, and financial investment.

Additionally, AlMuhaidib Group is actively expanding its portfolio by exploring diversified investments in additional sectors, particularly targeting markets and industries that present abundant opportunities. These investments are aimed at delivering sustainable value and long-term benefits to our shareholders and all related parties.

Founded by Sheikh Abdulkadir AlMuhaidib in 1940, the group entered a new phase in 2000, transitioning from a focus primarily on operations to positioning itself as a leading investment company.

AlMuhaidib Group’s journey over the past eight decades has been marked by substantial growth and transformation, building its reputation as a leader in both the investment and business landscapes. In addition to the Al Muhaidib Group’s extensive interest in contributing to social initiatives through Abdulkadir AlMuhaidib Social foundation for community social responsibly, it continues to leverage its resources to make a real difference in the various communities and markets where the group operates.

About Group AMANA: 

Group AMANA is a leading regional design-build company specialising in industrial construction for over three decades. With a track record of delivering over 1,500 industrial projects and serving more than 130 repeat clients, AMANA has established itself as a trusted name in providing turn-key solutions for fast-track projects. Guided by its “We Build With You” philosophy, the company is dedicated to championing intelligent solutions that ensure projects are value-engineered throughout their lifecycle.

Group AMANA operates through three key verticals: Construct, Manufacture, and Enhance. The Construct vertical encompasses AMANA Contracting and AMANA Aviation Fueling, offering intelligent solutions to industrial, commercial, and institutional markets. The Manufacture vertical, through its subsidiaries DuBox and DuPod, is revolutionizing the industry with next generation offsite modular building solutions. The Enhance vertical, comprising of AMANA Solar, AMANA Energy-Saving, and AMANA’s sustainability consultancy arm Mustadam, is driving the region’s sustainability agenda through cleaner energy saving solutions and services.

With a dedicated team of over 8,000 employees located in 11 cities across seven countries, Group AMANA continues to build on its formidable legacy, guided by its core values that deliver certainty, intelligence, and quality.