The Arab Petroleum Investments Corporation (Apicorp), a multilateral development bank, has signed a strategic five-year Murabaha financing facility worth $75 million with Alfanar Company, in support of Alfanar’s renewable-energy projects, including a wind-power project in Spain.
Jamal Wadi, chief executive of Alfanar Global Development, said: “With an existing portfolio exceeding 1.5 GW of renewable development projects around the globe, Alfanar is committed to further double its portfolio in the next few years. The signing of the Murabaha agreement with Apicorp brings us a step closer to realizing our commitment. This partnership with Apicorp comes at a time when Alfanar is also diversifying its portfolio and venturing into new markets.”
Nicolas Thevenot, Apicorp’s managing director, head of corporate finance, said: “Apicorp is committed to encouraging Saudi companies in their pursuit of opportunities beyond their home market. In this particular case, we are happy to support Alfanar toward their renewable- energy projects globally. This is in line with Apicorp’s focus to support global sustainability through projects driven by environmentally conscious and renewable principles.”
Alfanar is a Saudi-based company headquartered in Riyadh and engaged in the manufacturing of electrical products, design engineering and O&M services, with activities focused in Middle East, Europe and Asia. The company has successfully leveraged its expertise in electrical equipment manufacturing and in the engineering, procurement and construction of power transmission and distribution projects in the Kingdom to develop and operate renewable energy projects globally.
Alfanar is aiming to tap into the growing demand for renewable energy around the globe. The company aims to deploy 3 GW by 2022, with an intention to grow the portfolio to 4-5 GW by 2025.
Baker & Mckenzie, Bahrain acted as Apicorp’s legal counsel on the financing, and Hogan Lovells, Dubai advised Alfanar.
Apicorp is a multilateral development bank established to foster the development of the Arab world’s energy sector and petroleum industries. The corporation is owned by the 10 Arab oil-producing countries and its headquarters are in Dammam.
Apicorp agrees $75m Murabaha term facility with Alfanar
Apicorp agrees $75m Murabaha term facility with Alfanar
SUDO Consultants Signs Strategic Collaboration Agreement with AWS to Accelerate Cloud, AI, and Digital Transformation in Saudi Arabia
SUDO, an AWS Premier Tier Services Partner with competencies in DevOps, migration, modernization, and AI/ML solutions, has signed a strategic collaboration agreement with Amazon Web Services, Inc.. The partnership is aligned with Saudi Vision 2030 goals in technology innovation, economic diversification, and large-scale digital capability building.
As part of the SCA, SUDO will work with AWS to help customers accelerate their cloud adoption journeys, modernize legacy systems, and build secure, scalable digital platforms powered by AWS’s regional infrastructure. SUDO will support public and private sector entities to adopt cloud and AI faster, reduce technical debt, and strengthen their digital foundations in line with the Kingdom’s transformation priorities.
“Deepening our collaboration with AWS allows us to significantly expand the strategic support we provide to public and private sector entities across Saudi Arabia,” said Hameedullah Khan, CEO of SUDO. “Together, we will help organizations adopt cloud, scale AI-driven innovation, transform core processes securely, and accelerate their digital ambitions.”
“We’re excited to see SUDO deepen its collaboration with AWS as a regional launch partner in the Kingdom,” said Asif Ali, director of information technology, Ahmed A. Abed Trading Company.
This collaboration underscores the value of SUDO and AWS to provide flexibility and unlock greater business value for customers across industries.
About SUDO
SUDO, an AWS Premier Partner, helps organizations across the Middle East migrate, modernize and innovate on the cloud. The company specializes in cloud transformation, DevOps and AI solutions built on AWS, supporting enterprises and government entities through end‑to‑end cloud adoption — from strategy and implementation to ongoing managed services. With strong regional expertise and a highly certified engineering team, SUDO works to accelerate growth, reduce complexity and enable customers to maximize the value of AWS technologies.
