PIF plans company to finance green hydrogen projects: Report

08/10/2024 Argaam

The Public Investment Fund (PIF) plans to establish a company named Energy Solutions to finance green hydrogen projects, Bloomberg reported, citing sources.

 

The company is expected to invest at least $10 billion in green hydrogen initiatives, with an official announcement scheduled for this month.

 

Some of these investments are anticipated to be in partnership with Saudi Aramco, the agency noted.

 

Additionally, the volume of investments could grow significantly in the coming years, depending on the demand for hydrogen and its investment trajectory.

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