Hassana and EIG are joining forces for the energy transition

Hassana Investment Company has signed a memorandum of understanding with EIG, a leading global investor in the energy and infrastructure sector, to advance infrastructure and energy transition projects across the Middle East.

The collaboration will leverage EIG's $1 billion dedicated regional fund, with Hassana considering an anchor investment of up to $250 million.

This MoU underlines Hassana and EIG's shared vision to expand investments in regional infrastructure and sustainable energy. By encouraging the participation of international investors and encouraging foreign direct investment, the partnership is in line with the goals of Saudi Arabia's Vision 2030 as well as the broader regional push towards sustainable energy solutions.

The agreement was formalized by Saad bin Abdulmohsen Al-Fadly, CEO of Hassana, and R. Blair Thomas, Chairman and CEO of EIG.

Mr. Al-Fadly said: “Hassana is pleased to expand our partnership with EIG, a leader in the global energy and infrastructure sector. This agreement reflects our shared commitment to supporting the growth of infrastructure investment and facilitating the energy transition in the Kingdom of Saudi Arabia and the rest of the region.”

Mr. Thomas commented: “We had the pleasure of working with Hassana on the Pearl Pipelines project in the Kingdom of Saudi Arabia and are now looking forward to taking our relationship to the next level.”

He added: “We believe the energy transition is one of the defining investment themes of the next decades and leading investors must work together to deliver the reliable, affordable and sustainable energy system that society needs.” We are committed to doing just that do.”

Abdulaziz Al-Gudaimi, Chairman of EIG’s MENA Operations, said: “Hassana and EIG continue to make a difference in the Middle East energy scene. By deploying capital into innovative energy transition projects, we aim to build a sustainable future, stimulate the economy and strengthen the region’s commitment to clean energy solutions for many years to come.”