China’s Envision Energy has launched a strategic joint venture (JV) with Saudi Arabia’s Public Investment Fund (PIF) and Vision Industries. This partnership aims to accelerate wind power growth across the Middle East, contributing to the region’s transition to a cleaner, more sustainable future.
The JV will focus on manufacturing and assembling wind turbines and components, including blades, nacelles, and hubs. Envision Energy holds the majority share in the JV, with PIF and Vision Industries holding the remainder. This collaboration aligns with Saudi Arabia’s goal of localizing 75pct of renewable energy components by 2030, as outlined in the Saudi Ministry of Energy’s National Renewable Energy Program. Vision Industries is a leading investor and developer of green energy projects and local supply chains. PIF selected Envision as its JV partner due to Envision’s leadership in green power, which includes smart wind power, energy storage systems, and green hydrogen solutions to combat climate change.
