Alfanar to invest $1.3bn in UK renewable energy

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UK Minister for Investment Graham Stuart met with officials of the Alfanar Group during his recent visit to Riyadh.
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Within the UK, wind power is the largest source of renewable electricity and the second largest source of renewable energy after biomass.
Updated 15 July 2019
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Alfanar to invest $1.3bn in UK renewable energy

  • British Minister Graham Stuart welcomes the announcement during Riyadh visit

The Alfanar Group, one of Saudi Arabia’s largest industrial conglomerates, has announced that it will set up a renewable energy office in the UK, through its subsidiary “Alfanar Energy UK Ltd.” The new subsidiary will be headquartered in London, tapping into the UK’s highly skilled workforce and creating up to 30 jobs.

The office will oversee Alfanar’s investments in the UK, including a 1 billion pounds ($1.3 billion) investment into six waste-to-energy projects that will create hundreds of new jobs. The waste-to-energy projects will contribute to the UK government’s recent commitment to “net zero” greenhouse gas emissions by 2050. The projects will also divert more than a million tons of waste away from landfills, supporting the UK government’s Industrial Strategy Grand Challenge around Clean Growth.

During his visit to Riyadh, Minister for Investment Graham Stuart said: “I am very pleased that Alfanar has decided to extend their investment in the UK into the renewable energy sector. 

“Alfanar has been working in the UK market since 2006, and today’s announcement demonstrates their confidence in the UK economy and our world-leading renewable energy sector. Their investment will create new jobs and help support the government’s ambition to hit ‘net zero’ greenhouse gas emissions by 2050.” 

Speaking about the investment, Jamal Wadi, chief executive of Alfanar Global Development, said: “Our investment in the UK underlines our commitment to the renewable energy sector. We see clear benefits in partnering with UK-based suppliers, contractors and engineering firms. Alfanar Group is a global player in the electricity sector, with a global renewable development portfolio in PV, CSP, wind and waste-to-energy projects of 1.5 GW. We are a worldwide energy EPC developer with an aggregated value of $2 billion ongoing turnkey projects under construction or in final stages in EMEA and South Asia.” 

Capitalizing on its industrial and technological base, Alfanar is one of the energy transition leaders in Saudi Arabia. 

Alfanar is a provider for various government and business sectors, supporting Saudi Arabia’s Vision 2030 nationalization and manufacturing plans for the power and water sectors, as well as creating jobs and promoting national industrialization.

The UK remains the No.1 destination for foreign direct investment in Europe, with $1.89 trillion inward investment stock at the end of 2018. The UK ranks in the top 10 countries in the World Bank’s Ease of Doing Business report 2019, and will have the lowest corporation tax in the G20 by 2020.


iCAUR V27 conquers city roads with new energy technology

Updated 23 February 2026
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iCAUR V27 conquers city roads with new energy technology

A media test drive event focused on premium on-road driving was held in Jeddah. On Feb. 5, iCAUR invited representatives from media outlets, including leading automotive outlet Motory, to take part in an in-depth driving experience featuring the all-round hybrid SUV V27 across urban roads and intercity highways.
Guests gathered at Jeddah’s premium landmark, Millionaire Restaurant, where the iCAUR Saudi Arabia team introduced the V27’s design philosophy and key technologies. Open discussions followed, helping members of the media gain a clearer understanding of iCAUR’s brand vision and the V27’s core strengths ahead of the test drive.
The test drive route covered urban roads in Jeddah as well as inter-city highways leading to King Abdullah Economic City, providing an ideal setting to evaluate the V27’s on-road performance across varied conditions. During long-distance highway driving, range and power remain key considerations, and the iCAUR V27 demonstrated solid on-road performance. As the brand’s first mass-production model equipped with the Golden REEV system, the V27 features a dedicated 1.5T range-extender engine with a thermal efficiency of 45.79 percent. It generates 3.71 kWh of electricity per liter of fuel and delivers a combined range of over 1,000 km, effectively addressing long-distance travel concerns.
On city streets with moderate traffic, the V27 impressed with its smooth and quiet ride. The electric motors deliver responsive, linear acceleration, with seamless start-stop performance that keeps driving relaxed even in traffic. Once on open intercity highways, pressing the accelerator fully unleashes 455 hp from the dual motors, propelling the SUV from zero to 100 km/h in about five seconds. Overtaking and lane changes feel effortless, with no hint of lag at any point.
Even more impressive, this five-meter-long SUV, with a chassis tuned by the internationally renowned racing team Prodive and equipped with an intelligent all-wheel drive system, maintained precise handling at high-speed corners. The steering felt responsive and refined, while the suspension offered solid support, completely defying the typical perception of large SUVs as cumbersome. “I didn’t expect such a large SUV to handle so nimbly — it was enjoyable to drive from start to finish,” one media guest remarked after the test drive. “The intelligent cockpit exceeded all expectations, making long-distance driving both comfortable and enjoyable!”
During the test drive, several media representatives praised the V27’s Stellar Cockpit. The 15.4-inch 3K HD touchscreen delivers crisp, detailed visuals, while the smart infotainment system powered by the 8155 chip ensures smooth operation comparable to a premium tablet, with seamless swiping and no lag. Meanwhile, a temperature-controlled armrest compartment, along with ventilated and heated seats precisely calibrated to the driver’s comfort, kept the driving experience enjoyable throughout the long-distance journey.
Previous test drives at Riyadh’s Edge of the World demonstrated the V27’s off-road capabilities under challenging conditions. The Jeddah media test drive, however, offered a first-hand experience of the V27’s impressive performance in city commuting and intercity highway scenarios. It not only overcomes the typical trade-off between power and range found in conventional new energy vehicles but also seamlessly combines intelligent technology with precise handling, meeting the key expectations of Saudi drivers for on-road performance.
As a model tailored for the Middle East market, the iCAUR V27 made its global debut in the UAE on Feb. 8, followed by a launch in Bahrain on Feb. 10. The arrival of the V27 is expected to bring fresh energy and new possibilities to the region’s premium new energy mobility segment.