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Press Release29 June 2021Siemens EnergyRiyadh
Siemens Energy to power Saudi housing megaproject
The
Kingdom’s Public Investment Fund (PIF) officially launched ROSHN as one of its four
megaprojects in 2020 with the aim of developing communities in major cities
across the Kingdom, to increase the rate of Saudi home ownership to 70%, and
support job creation as per Vision 2030.
ROSHN’s Riyadh community will comprise of
mosques, shops, cafes, parks, schools, and leisure and entertainment
facilities. It is the first of many communities to be developed by ROSHN.
“This
contract will enable Siemens Energy to create more jobs for Saudi talents and
will provide homes to meet the needs of Saudi families. One of our main values
as Siemens Energy is to care for the communities where we live and so it is an
honor for us to be able to contribute to such a great project,” said Mahmoud Sulaimani,
Managing Director of Siemens Energy in Saudi Arabia.
The grid project will boost transmission
capacity and feed power to the new integrated urban community project. Siemens
Energy will provide engineering, supply, construction, installation, and commissioning
of grid stations which connect the
residential community to the Saudi National Grid.
“Siemens
Energy will help deliver electricity to this sustainable urban community,
ensuring the safety, reliability and security of the power supplies to resident
and visitors,” said Mahmoud Hanafy, Vice President, Grid
Stabilization, Middle East. “The project reiterates our commitment to enable more resilient,
reliable and greener power grids.”
Siemens
Energy will break ground on the project in July. Work is expected to be
energized by May 2023 and completed by August 2023.
Due
to the rapidly accelerating development plans, Saudi Arabia is emerging as one
of the largest markets worldwide for power transmission and grid projects. The
government is committed to invest in new infrastructure projects. Today, almost
30 percent of the power transmitted in the Kingdom relies on Siemens Energy’s
technology.
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Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020.