Saudi Energy, Bpifrance Sign Cooperation Agreement for Project Financing

26/08/2026 04:05 AST

Saudi Energy signed on Monday a cooperation agreement with the French public investment bank Bpifrance on project financing on the sidelines of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister's state visit to France.

The agreement, signed during the Saudi-French Investment Roundtable Meeting, focuses on financing Saudi Energy's projects to develop and expand the power grid. It aims to provide competitive financing solutions for the company's procurement activities and projects.

It builds on a memorandum of understanding signed by the two sides in November 2025, which established a framework for procurement financing facilities to support Saudi Energy's purchasing program and help diversify funding sources for its strategic projects.

The cooperation mechanism also involves BNP Paribas and HSBC as coordinators of the financing process, with efforts to broaden the pool of international lenders. This is intended to diversify liquidity sources and enhance financing flexibility for future projects.

The agreement reflects Saudi Energy's efforts to leverage international financing instruments to support its projects, including power infrastructure projects, strengthen grid reliability and stability, and improve project execution efficiency.

It underscores the continued expansion of cooperation between Saudi and French entities and the development of partnerships across various sectors as part of efforts to strengthen strategic ties between the two countries.

Asharq Al Awsat