Envision Energy Announces Joint Venture with PIF to Boost Renewable Energy in the Middle East

Envision Energy, known as the "Green Giant" and listed among the “2024 TIME100 Most Influential Companies,” has entered a strategic joint venture with Saudi Arabia's Public Investment Fund (PIF) and Vision Industries. This partnership aims to accelerate wind power growth in the Middle East, contributing to a cleaner and more sustainable future.

The joint venture will focus on the manufacturing and assembly of wind turbines and components such as blades, nacelles, and hubs. Envision Energy holds the majority share in this venture, while PIF and Vision Industries possess the remaining stakes. This collaboration aligns with Saudi Arabia’s goal to localize 75% of renewable energy components by 2030, in accordance with the Saudi Ministry of Energy’s National Renewable Energy Program.

PIF, the sovereign wealth fund of Saudi Arabia, supports the Kingdom’s energy transformation mission by developing new renewable energy projects, including wind power and energy storage. Vision Industries is a key player in green energy projects. The partnership with Envision Energy was chosen due to its leading position in green power technologies.

This collaboration merges PIF's substantial investment capabilities and Envision Energy's advanced wind power technology, marking a significant step toward Saudi Arabia's Vision 2030 and advancing global clean energy efforts.